SINGAPORE - MediaOutReach - 5 July 2019 - GlobaleTrade Services (GeTS), a global trade platform company, will launchblockchain-based electronic Certificates of Origin (eCOs) in partnership withSingapore Chinese Chamber of Commerce & Industry (SCCCI).  The service will be made available on GeTS'neutral and trusted Open Trade Blockchain (OTB) platform from 5^th July 2019.

Mr. Chong Kok Keong CEO of GeTS said: "We are delightedto partner SCCCI to roll out this initiative by harnessing our blockchaintechnology to fulfil regulatory requirements. We will continue to make trademore accessible, easier and predictable for global trade."

The Certificate of Origin is an important trade document for cross-border tradebetween countries and use to certify the origin of the imported goods.  The blockchain-based eCOs on GeTS' OTBplatform will facilitate a more open and transparent digital trade economy,promote trusted connections, help establish the provenance of goods, and serveas a source of authenticity to Customs agencies and importers.  It will also help to mitigate fraud risks orpotential alteration of content, providing an immutable audit trail whilefacilitating a more secure exchange of trade documents.

MrRoland Ng, President of SCCCI said: "SCCCI actively helps enterprises inbusiness development and transformation, enabling them to adapt swiftly toglobal changes.  The partnership withGeTS will empower businesses to expand their global footprint with ease,enhance their productivity, and help our members to harness the businessopportunities using a trusted, secure, borderless and seamless blockchaintechnology."

With more than thirty thousand Certificates of Originbeing issued yearly, blockchain-based eCOs will enable trade documents to beexchanged securely on a neutral platform on OTB, improving the supply-chainefficiency.  Highly compliant industries suchas food, pharmaceutical and automotive will benefit, especially when safety andhealth are key concerns.  It allowstraceability and provide transparency in the supply-chain in the event offraud, recall or adulteration for the food, automotive or medication shipped.

Mr Eugene Wong, Chaiman of GeTS said: "We continue toinnovate and bring about critical digital transformation in the trade andlogistics industry.  Blockchain willtransform international trade, and the OTB platform is the perfect solution tobridge and create a neutral layer of trust among multiple stakeholders, allowingthem to collaborate and access to trade documents securely."

About Singapore Chinese Chamber of Commerce & Industry

Established in 1906, the Singapore Chinese Chamber of Commerce &Industry (SCCCI) is an internationally renowned business organisation and theapex body of the Chinese business community in Singapore. It is the founder ofthe biennial World Chinese Entrepreneurs Convention, a global businessconvention. It plays a key and pro-active role in representing the interests ofthe local business community. In its continued drive for service excellence,the SCCCI has become the first business chamber in the region to be awarded ISO9001 certification since 1995. In 2018, the Chamber successfully upgraded itsISO certification to ISO 9001:2015.

The SCCCI has a membership network comprising 5,000 corporate members andhas more than 160 trade association members, representing over 40,000 companiesincluding large financial and business organisations, multinationalcorporations, government-linked companies, and small and medium enterprisesfrom a wide spectrum of trades and industries. These members together providevast resources and opportunities which enable the SCCCI to develop aninfluential global Chinese business network for business, education, cultureand community development. In return, they share a strong sense of pride andidentity together and benefit immensely from the SCCCI's membership services,facilities and activities.

About Global eTrade Services

Global eTrade Services (GeTS), a global leading trade platform company, is shaping the future of trade and supply chain with its innovative use of technology and deep G2B and B2B domain expertise.  GeTS enables the orchestration of physical logistics, compliance and financial requirements of trade and supply chain seamlessly, smartly and securely, thus powering global trade by making it accessible, predictable and easier to fulfil. The company has linkages to 26 Customs nodes across the world, with more than 175,000 connected parties and conducting more than 18 million transactions annually.