FPT IS and TradeWaltz expand the cooperation to promote trade in Asia
On December 16, FPT Information System Corporation (FPT IS) and TradeWaltz, a company that owns a leading trade information collaboration platform in Japan, have signed a strategic cooperation agreement for the next stage. Accordingly, FPT IS’s Digital financial ecosystem – TradeFlat will integrate with the TradeWaltz platform and expand cooperation in the Asia-Pacific region to promote international trade.
The ceremony of signing the Memorandum of Understanding between FPT IS and TradeWaltz takes place in the presence of Prime Minister Mr. Pham Minh Chinh, Minister of Economy, Trade and Industry of Japan (METI), Chairman of the Japan External Trade Organization (JETRO), as well as leaders of ministries/departments and cities/provinces of the two countries. The ceremony is part of the Vietnam – Japan Economic Forum 2023 that is jointly organized by the Ministry of Planning and Investment of Vietnam, JETRO, and the Vietnamese Embassy in Japan. In particular, the cooperation between the two sides has also been announced at the ASEAN – Japan Economic Co-creation Forum, an initiative in promoting business opportunities between the ASEAN region and Japan.
On behalf of FPT IS, Mr. Tran Dang Hoa – Chairman – signs the MoU with TradeWaltz.
Specifically, the two sides will integrate the two platforms TradeFlat and TradeWaltz via API link to connect trade areas and related services to handle cross-border trade and trade finance transaction flows; research and develop strategic planning for the Vietnamese market; as well as promote cooperation with commerce platforms in the Asia-Pacific region.
The integration between TradeFlat – the digital financial ecosystem developed by FPT IS – and TradeWaltz – the leading trade information collaboration platform in Japan – marks the first time that a Make-in-Vietnam technology solution cooperates with an international platform in trade activities between Vietnam and Japan. TradeWaltz has been invested by large Japanese organizations, including NTT Data Corporation, Toyota Tsusho Corporation, Mitsubishi Corporation…Meanwhile, TradeFlat is owned by FPT IS, co-developed with leading banks and businesses, and has been introduced to the Japanese market for commercial exploitation by FPT Japan Holdings Co., Ltd. (FPT Japan).
The progress in the cooperation between FPT IS and TradeWaltz has even more special meaning since 2023 marks the 50th anniversary of the establishment of Vietnam – Japan diplomatic relations. Over the past 50 years, Japan has always been among Top 3 largest foreign investors in Vietnam with presence in 57/63 provinces and cities of Vietnam. Therefore, there have always been strong demands for investment and import-export activities from Japanese businesses.
“The signing of the MoU between FPT IS and TradeWaltz at the Vietnam – Japan Economic Forum in the presence of the Prime Minister of Vietnam and senior leaders of the two countries shows the special attention of the Governments of the two countries in promoting bilateral trade cooperation, especially via new digital platforms. The cooperation contributes to realizing FPT IS’s mission in accompanying the Governments and businesses in business connection and creation of comprehensive model of digitalization of international trade activities in the Asia-Pacific region. We believe and expect to carry on and join hands with many more commercial organizations to come, to promote multilateral economic development and realize the goal of the governments of Vietnam and Japan, that is to make the two countries comprehensive strategic partners for peace and prosperity in Asia and the world”, said Mr. Tran Dang Hoa, Chairman of FPT IS.
With such orientation, FPT IS has become the 20th member of the Pan Asian E-commerce Alliance (PAA). This will allow FPT IS to proceed with building bilateral and multilateral integration projects with PAA members to promote cross-border trade transactions within the Alliance in particular and the region in general.
Businesses can easily address trade finance problems in trade transactions with TradeFlat.
With the vision of connecting, resonating values and promoting business among banks and businesses, TradeFlat is the first L/C Blockchain platform in Vietnam to handle L/C operations in a consistent and end-to-end manner. The solution delivers outstanding effect in commercial activities such as reducing the time of document delivery by 90% compared to conventional trade finance transaction flows, reducing the processing time of bank staff by 50%, and increasing productivity and work efficiency by 3 times. The model is jointly researched, developed, and trusted by leading commercial banks in Vietnam.
In addition to efficiency in handling L/C transactions, TradeFlat also addresses the overall problems of trade finance in commercial transactions for businesses, including: Supply Chain Finance (SCF), Electronic Guarantee (eGuarantee), and Business Financial Health Monitor.
The solution has also been integrated with the Made-by-FPT-IS ecosystem, such as the Electronic invoice (FPT.eInvoice), Electronic contract (FPT.eContract), eContract authentication system (FPT.CeCA) licensed by the Ministry of Industry and Trade, Digital signature with timestamp (FPT.eSign)…, delivering a seamless experience to the users.
Find out more about TradeFlat here.
