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Logistics and shipping firms will be able to securely share more data on the movement of goods when a new trade data exchange is rolled out in 2022, enabling them to optimise operations.
From pilots conducted so far, the Singapore Trade Data Exchange (SGTraDex) is expected to unlock more than S$200 million in value annually for the supply chain ecosystem, Deputy Prime Minister Heng Swee Keat said on Tuesday (Jul 13).
Describing it as a breakthrough, he said SGTraDex will allow stakeholders to "plug and play" and exchange information with other firms in a secure manner. Data that would have been previously unavailable or difficult to obtain, such as real-time cargo location, will also become easier to access.
Source: Channel News Asia
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