The Singapore Trade Data Exchange (SGTraDex), a Singapore-driven Public-Private partnership aimes to reshape the local supply chain ecosystem through digitalization. At the Asia Tech x Summit Mr. Heng Swee Keat, Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies, also announced an industry-led partnership initiative.
In his speech at the Asia Tech x Summit, Mr. Heng Swee Keat emphasized that the Common Data Infrastructure (CDI) based initiative will provide the platform to enhance interoperability amongst supply chain ecosystem players and enable neutral, trusted, and secure data flows. Accelerated by COVID-19, the initiative is a response to the regionalization of trade flow and supply chains.
Since April 2020, as part of this initiative, Oiltanking has represented the storage industry in the development of two out of the three Use Cases that aim to strengthen trade finance and improve operational efficiency. These pilots are essential components to enhance the sustainability and resilience of global supply chain. As SGTraDex embarks on the next stage of development of current and new Use Cases, Advario looks forward to bringing its commodity trading ecosystem partners on board this digitalization journey.
“We are proud to join the industry-led Public-Private Partnership SGTraDex initiative to enhance digitalization in the supply chain. In collaboration with Singapore authorities and our valued founding partners, we look forward to realizing significant gains in key areas such as utilization of assets, process efficiencies, and building trust and transparency in the Singapore ecosystem,” says Snehashish Chatterjee, Vice President Southeast Asia, Oiltanking Asia Pacific.
The group of founding shareholder of the SGTraDex consortium is formed by Oiltanking, Infocomm Media Development Authority (IMDA), Trafigura Group, PSA International (PSA), Jurong Port, DBS Group (DBS), Oversea-Chinese Banking Corporation Bank (OCBC), Standard Chartered Bank (SCB), United Overseas Bank (UOB) Pacific International Lines (PIL), and Ocean Network Express (ONE).
