Accordingly, the two sides carried out the signing of a cooperation agreement to promote the integration of the two platforms TradeFlat (developed by FPT IS) with the CUBE Global Trading Platform (developed by TradeWindow), pioneering a comprehensive digitalization model for international trade activities, accompanying the Governments and businesses of the two countries in expanding opportunities and connecting cross-border business effectively and reliably. The cooperation was witnessed by Ms. Ginny Chapman – New Zealand Deputy Ambassador and representatives from the New Zealand Asia Foundation in Vietnam.
Specifically, TradeFlat and TradeWindow will join forces to connect and integrate the two platforms based on: API linkage – connecting relevant trade and service areas to process cross-border trade and trade finance transactions; Research and strategic planning for markets; Partnership with trading platforms in the Australasia and other regions. The goal in the near future is to successfully implement a Proof of Concept (PoC) transaction, facilitating stakeholders in trading activities in New Zealand and Vietnam to experience and apply the comprehensive digitalization process, aiming to promote rapid growth in two-way trade turnover over the years.
TradeFlat integrating with TradeWindow marks the first time a Made in Vietnam technology solution has partnered with New Zealand’s international platform in the two countries’ trade activities. 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, two-way trade reached US$1.67 billion as of December 2023, and the two sides are pushing to realize the target of US$2 billion this year and towards the target of US$3 billion by 2026.
Speaking at the event, Ms. Ginny Chapman, New Zealand Deputy Ambassador to Vietnam, said: “The cooperation between TradeFlat and TradeWindow will create conditions for Vietnam and New Zealand to resonate with each other’s potential, especially in issues of capacity, expertise, and digital transformation technology solutions, thereby promoting trade activities between the two countries”.
Founded in 2018, TradeWindow is a publicly listed New Zealand technology company (NZX), leading the country in digitizing trade-related activities, information, and processes. TradeWindow’s CUBE Global Trading Platform provides a wealth of functionality and data insights to support manufacturers, exporters, importers, shippers, freight forwarders, and government agencies involved in trade policy and regulation. TradeWindow holds the number one market share in New Zealand for the volume of goods exported overseas through its digital platform. The company is also growing market share rapidly in Australia and has PoC trials underway with the UK and Singapore Governments.
“ We believe that this cooperation will open up a comprehensive trade digitalization process between the two countries, aiming to promote trade, strengthen bilateral cooperation, thereby multiplying the effectiveness in other markets , said Mr. AJ Smith, Founder and CEO and Mr. Mitchell Pham, Chief Digital Officer of TradeWindow.
On the side of TradeFlat, this project is a step forward in the unit’s goal of expanding the ecosystem through connecting the world’s leading trading platforms. “With the orientation of becoming a leading online trading and trade finance platform in Vietnam, connecting strategic partners in international trade activities, the cooperation with TradeWindow is the key to realizing this vision. As a leading technology unit in Vietnam and the region, FPT IS would like to contribute experience and Made by FPT IS – Made in Vietnam solutions, accompany to remove barriers in the import and export process between enterprises of the two countries, and facilitate the shift of global supply chains and international trade”, Mr. Tran Dang Hoa, Chairman of FPT IS, committed.
Cooperation between TradeFlat and TradeWindow aims to promote cross-border trade between Vietnam and New Zealand
TradeFlat is the first Blockchain L/C platform in Vietnam that helps process L/C transactions uniformly and end-to-end. Besides its efficiency in processing L/C transaction workflows, TradeFlat also solves the general problem of capital financing in trade transactions for businesses in Vietnam, including: Supply Chain Finance (SCF), eGuarantee, Business Financial Health Monitoring.
The solution supports a 90% reduction in document transfer time compared to traditional trade finance and supply chain finance transaction flows, a 50% reduction in processing time for bank staff, and a threefold increase in productivity and work efficiency. The model is jointly researched and developed by many leading commercial banks in Vietnam.
In 2023, TradeFlat partnered with TradeWaltz – Japan’s leading trading platform, becoming the first duo of solutions to connect and effectively promote Vietnam – Japan trade. Within just 3 months from the time of signing the cooperation agreement, the two sides have conducted a successful POC integrating the platform with an international L/C transaction, initiating the deployment of a cross-border cooperation model on an online trading platform for businesses in Vietnam and Japan. This is a large-scale cross-border trade finance transaction, a transaction that is highly complex and involves multiple parties.
