Philippines becomes second country after Malaysia to adopt Ztrade MYEG will provide installation, training, and customisation requirements MY E.G. Services Bhd (MYEG) has secured regulatory approval to deploy its Web3, Artificial Intelligence, and blockchain-based customs clearance and processing services for trade flows between the Philippines and China. MYEG, together with its Philippines-incorporated companies, signed agreements for collaboration with the Philippines Bureau of Customs (BOC) and Cargo Data Exchange Center Inc.
Philippines becomes second country after Malaysia to adopt ZtradeMY E.G. Services Bhd has secured regulatory approval to deploy its Web3, Artificial Intelligence, and blockchain-based customs clearance and processing services for trade flows between the Philippines and China.
Meanwhile, BOC Commissioner Bienvenido Y. Rubio said: “This platform will enable the verification of Certificates of Origin for exports to China and vice-versa, using express clearance and tariff exemptions under the RCEP and the ASEAN-China Free Trade Agreement . The proposed use of the Zetrix platform shall be at no cost to the Philippine Government.
This initiative by MYEG follows the signing in March of a partnership between the Group and East Logistic-Link Co, Ltd, a wholly-owned agency of the General Administration of Customs of the People's Republic of China , to jointly provide a full suite of cross-border trade facilitation services on the Zetrix blockchain platform. This includes the lodgment of certificates of origin with the potential to include other certificates relevant to cross-border trade.
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