CrimsonLogic Signs Milestone MOU To Establish a Digital Trade Corridor To Promote Asia-Europe Trade Routes
MOU partners – KTZ Express and Digital Silk Way set to develop Kazakhstan as critical transit between the two continents
SINGAPORE / NUR-SULTAN, KAZAKHSTAN - Media OutReach - 30 November 2021 - CrimsonLogic, a leading global provider of Trade solutions, products and services headquartered in Singapore, has signed a Memorandum of Understanding (MOU) with KTZ Express (a subsidiary of Kazakhstan Rail Company and a national logistics operator) and local IT partner – Digital Silk Way to collaborate and establish a Digital Trade Corridor to promote trade for the region and beyond.
The proposed Digital Trade Corridor initiative will serve the Trans-Caspian International Transport Route, which starts from Southeast Asia and China, through Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and beyond to Europe. This initiative is closely aligned to Kazakhstan-2050 Strategy* to enhance economic pragmatism and support entrepreneurship. With the increased trade flow between Asia and Europe, Kazakhstan is centrally positioned to serve as a logistic hub, especially for critical markets such as China.
The core of this Corridor is an integrated solution consisting of CALISTA (a supply-chain orchestration platform by GeTS, a subsidiary of CrimsonLogic) and another solution with local partner Digital Silk Way. This initiative will facilitate better B2B2G trade regulatory compliance and improves global trade connectivity digitally. KTZ Express will be the flagship logistics operator for this integrated Digital Trade Corridor for Kazakhstan and Central Asia.
Mr Saw Ken Wye, Chief Executive Officer of CrimsonLogic said: "In this new norm, the world is seeing increased pressure on the global supply-chain. With this new Digital Trade Corridor, it will make it easier to facilitate trade via the Trans-Caspian International Transport Route, providing shippers and carriers more options, especially to land-locked countries. As a long-term strategic tech player in Kazakhstan, CrimsonLogic is delighted to enter this MOU with like-minded partners such as KTZ Express and Digital Silk Way to help elevate the country's status as a global logistic hub."
Mr Nurlan Igenbayev, CEO of KTZ Express said: "Our cooperation will accelerate the transition to paperless technology for shippers and consignees to transport goods. Most importantly, this will strengthen international cooperation, increases transit traffic through Kazakhstan, expands the market for transport services, as well as creating new logistics chains."
Mr Doszhan Zhussupov, CEO of Digital Silk Way said: "We believed that increasing the effectiveness of the Trans-Caspian International Transport Route and transforming the related digital infrastructure will best serve Kazakhstan and stakeholders in the trade and logistic community in Asia and Europe. We are taking on the challenge to transform existing processes to create a single platform that can provide seamless document flow digitally connecting China to Europe in the appropriate forms and languages. The platform will be powered by our CrimsonLogic and GeTS partners, and with their extensive experience in trade facilitation and logistics, it will definitely transform the business environment in this region."
CrimsonLogic is a partner to governments and businesses globally. For over 30 years, CrimsonLogic has partnered customers to innovate sustainable world-class solutions, products and services in Trade, Legal and Digital Government, enabling significant transformations that have positively impacted governments, businesses and communities.