FPT IS and TradeWindow – the largest trade platform in New Zealand – collaborate to advance cross-border trade
In pursuit of expanding new business partnership models and enhancing cooperation projects for connecting and processing cross-border trade transactions, FPT IS has partnered with TradeWindow – the premier technology company behind New Zealand’s leading online trade platform. This cooperation signals a step forward in fostering the cross-border trade model between Vietnam and the New Zealand market, as well as the broader international arena.
Accordingly, the two parties signed a Memorandum of Understanding regarding the integration of two platforms, TradeFlat (developed by FPT IS) and Global trade platform CUBE (developed by TradeWindow). This integration aims to create comprehensive digitalization models for international trade, supporting the governments and businesses of both countries to effectively and securely expand opportunities and connect cross-border trade. The cooperation was witnessed by Ms. Ginny Chapman – Deputy Ambassador of New Zealand to Vietnam and representatives from the Asia New Zealand Foundation.
Specifically, TradeFlat and TradeWindow will collaborate to integrate two platforms based on API Linkage – connecting trade and trade finance related services to handle transaction flows and cross-border financing, Research and strategic planning for markets, and Collaboration with trade platforms in Australasia and other regions. The immediate goal is to conduct a successful Proof of Concept – PoC, facilitating stakeholders in trade activities in New Zealand and Vietnam to experience and apply comprehensive digitalization processes, aiming to drive rapid growth in two-way trade turnover in the coming years.
Memorandum of Understanding signing ceremony between FPT IS and TradeWindow.
Notably, the integration between TradeFlat and TradeWindow marks the first collaboration between a Make in Vietnam technology solution and a New Zealand international platform for trade activities between the two countries. Currently, Vietnam ranks 17th out of 242 in terms of highest export value (from New Zealand to Vietnam), 14th out of 241 in terms of highest import value (from Vietnam to New Zealand), and 14th out of 244 in terms of highest total trade value. Looking back, bilateral trade reached USD1.67 billion as of December 2023. The two sides are aiming to reach a target of USD2 billion this year and USD3 billion by 2026.
Sharing at the event, Ms. Ginny Chapman – Deputy Ambassador of New Zealand to Vietnam expressed, “Cooperation between TradeFlat and TradeWindow enables Vietnam and New Zealand to combine their skills, expertise and specifically, their digital technology in ways that can facilitate more trade between our two countries.”
Founded in 2018, TradeWindow is a publicly listed New Zealand technology company (NZX), spearheading the digitalization of trade-related operations, information and processes. TradeWindow’s CUBE global trade platform provides a wealth of functionality and data insights to support manufacturers, exporters, importers, shippers, freight forwarders and government agencies regarding trade policy and regulation. TradeWindow dominates the New Zealand market with the volume of goods exported through its digital platform. The company is rapidly expanding its market share in Australia and is currently engaged in PoC pilots with the governments of the United Kingdom and Singapore.
“We expect the successful cooperation with FPT IS will enable a more comprehensive trade digitalization process between the two countries and contribute to furthering bilateral trade, as well as a framework for expanding to other markets”, shared TradeWindow CEO/Founder AJ Smith and Chief Digital Officer Mitchell Pham.
For FPT IS, TradeFlat represents the next step in its mission to expand the ecosytem by connecting leading trading platforms worldwide. “With the aim of becoming a leading digital trade and digital trade finance platform in Vietnam, connecting strategic partners in international trade, cooperating with TradeWindow is the key to actualizing our vision. As the leading tech firm in Vietnam and the region, FPT IS hopes to contribute experiences and strong Made by FPT IS – Make in Vietnam solutions to help remove barriers to import and export between the two countries, creating advantages in shifting global supply chains and international trade.” committed Mr. Tran Dang Hoa, Chairman of FPT IS.
Cooperation between TradeFlat and TradeWindow aims to promote cross-border trade between Vietnam and New Zealand
TradeFlat, Vietnam’s pioneering L/C Blockchain platform, streamlines L/C operations seamlessly with an end-to-end platform. In addition to efficiently managing L/C transaction processes, TradeFlat also tackles global financing challenges for businesses engaged in trade transactions in Vietnam, including Supply Chain Finance (SCF), Electronic Guarantee (eGuarantee), and Business Financial Health Monitor.
The solution significantly reduces document transfer time by 90% compared to traditional financing transaction flows and cuts operational processing time of bank staff by 50%, while tripling productivity and work efficiency. This model has been jointly researched and developed by many leading commercial banks in Vietnam.
In 2023, TradeFlat partnered with Japan’s leading trade platform TradeWaltz, becoming the first solution duo to promote Vietnam – Japan trade effectively. Within just 3 months of cooperation, the two platforms successfully conducted a PoC integrating with international L/C transactions, marking a significant milestone in cross-border trade on an online trade platform for businesses in Vietnam and Japan. This collaboration represents global-scale cross-border trade finance operations with high complexity and engagement of numerous parties in transactions.
