The Asia-Pacific Model E-Port Network (APMEN) executed an MOU with GCEL on September 14, 2017 towards deployment of the Digital Economy Platform (DEP) through the HumaWealth Benchmark Trade Lanes (BTL). APMEN was established by the Asia Pacific Economic Cooperation (APEC), comprising 21 member countries generating 60% of global GDP including China, Japan and the USA.
The aims of the MOU embrace a BTL between China and ASEAN (Malaysia and Indonesia), powered by India, representing nearly 45% of the world’s population. The BTL will trigger enhanced efficiency and security of trade serving as a benchmark for APEC and the world thereby supporting sustained global economic growth.
APMEN and GCEL have common synergies including 10 APEC economies that have conducted National Trade Efficiency Assessments with GCEL, demonstrating the demand by these economies for a comprehensive DEP providing improved customs agency cooperation through a “Global Single Window”, consolidating and streamlining information sharing, real-time visualization of end-to-end supply chain activities, enhanced cross border clearance efficiency including electronic submission of customs documentation, increased use of electronic payments, and more.