Malaysia as well as China investigate blockchain technology to ease Malaysian exports

by

Malaysia as well as China have been exploring blockchain technology in order to obtain a preferred certificates of origin (PCO) in order to facilitate exports from Malaysia to China. Its Ministry of International Trade and Industry (Miti) in Malaysia stated in a statement Tuesday that the decision will help to facilitate the an agreement for the mutual recognition of digital certificate of origin in the Regional Comprehensive Economic Partnership (RCEP) framework.

Its concept of a single window framework is designed to facilitate trade and lower technical barriers through providing more secure and efficient process of goods that come of Malaysia and China. Additionally, implementing an electronic system that connects Malaysia and China will greatly help businesses in a variety of ways, such as improving the clearance of customs and decreasing the costs of storage in China ports.

It is expected to offer possibilities for capacity development and sharing of knowledge The e-system will also help the creation of a sustainable economy.

Source: technode.global

Related Agroforestry News Posts:

  1. China imports its first shipment of Iranian citrus by through the air The Chinese General Administration of Customs (GAC) on the 31st of August 2022, signed an agreement together with Iranian Ministry of Agriculture on permitting the import of Iranian oranges into China which was the first agreement on importation of fruit...
  2. China opens the doors to cherry exports from Pakistan However, strict regulations hinder exports After the official opening of the border between China and Pakistan in April In the meantime, the Chinese government has permitted the importation of cherry products from Pakistan. But, this trade must meet strict phytosanitary standards, which experts claim, can...
  3. China’s Panzhihua mango exports are growing as do new markets. The mango harvest period within Panzhihua, Sichuan started at the end of May, and is currently at its highest. The varieties that are available during the season include Kate Mango and Jinhuang Mango in particular. Kate Mango is the most...
  4. China has suspended the import of Taiwan mangoes citing insects China has temporarily suspended exports to Taiwan mangoes, saying that insects ( Planococcus Minor mealybugs) have been found. The suspension comes into effect Tuesday, and the China’s General Administration of Customs has been requesting Taiwan to strengthen its quarantine control...
  5. Thailand’s fruit exports in 2021 to reach 5.4 billion U.S. dollars, thanks to China’s e-commerce platforms According to “Pattaya Mail” from Thailand, Thailand is planning to sign more Mini Free Trade Agreements (Mini FTA) with other provinces in China after “handing in” Hainan. Mr. Jurin Laksanawisit, Thai Minister of Commerce said that Hainan’s geographical position is...

Source: The Plantations International Agroforestry Group of Companies