29 July 2021
On 13 July 2021, Singapore Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat launched the Singapore Trade Data Exchange, or SGTraDex at the Asia Tech x Singapore Summit 2021.
SGTraDex is a common data infrastructure for the supply chain eco-system which enables the trusted sharing of trade data. Designed as a neutral and open digital infrastructure through a public-private partnership, SGTraDex will support ecosystem-wide digital transformation, connecting supply chain ecosystems both locally and globally.
SGTraDex was developed and driven by three initial use cases to push the boundaries of innovation for a trusted data exchange. From the pilots so far, SGTraDex has the potential to unlock more than US$150 million of value annually for the supply chain ecosystem when fully developed. SGTraDex will also enable new value-added services for supply chain participants and speed up the processing of customs clearance, trade financing, insurance and other related activities. With SGTraDex, previously unavailable or difficult to obtain data, such as real-time cargo location, can be easily attained. This will enable logistic players and shippers to optimise cargo handling and operations.
SGTraDex is expected to be fully rolled out in early 2022.
The following materials are available on the Info-communications Media Development Authority (“IMDA”) website www.imda.gov.sg:
- IMDA media release: Singapore to unlock full potential of digital, announces SGTraDex to digitalise the supply chain ecosystem, at Asia Tech x Singapore
- Speech by Deputy Prime Minister Heng Swee Keat at Asia Tech x Singapore Summit 2021 on 13 July 2021
- Factsheet: Singapore introduces SGTraDex, an interoperable common data infrastructure to connect supply chain ecosystems
- Factsheet: IMDA and National Research Foundation Singapore (NRF) invests close to S$70 million to enhance Singapore’s communications & connectivity capabilities and seize future opportunities