Abu Dhabi Customs launched its advanced digital platform “Trade chain” in the Abu Dhabi Government pavilion during its participation in GITEX Global 2023, held at Dubai World Trade Centre. This advanced platform integrates with global blockchain platforms specialized in trade
As part of its vision to expand the “Invisible Customs System”, Abu Dhabi Customs launched its advanced digital platform “Trade chain” in the Abu Dhabi Government pavilion during its participation in GITEX Global 2023, held at Dubai World Trade Centre. This advanced platform integrates with global blockchain platforms specialized in trade, providing benefits like improving customs operations performance, enhancing the reliability of information sources, and processing information proactively and quickly through a safe and secure platform.
The platform enhances the capability to monitor shipments, as well as the shipping and clearance procedures. It can also predict delivery times, contributing to reduced effort and costs associated with customs clearance. Furthermore, it facilitates seamless communication with trade partners and enhances supply chain security.
The platform also enhances the speed of data exchange with connected entities and guarantees the confidentiality of data shared with customs authorities and other entities using the platform. This results in a reduction of up to 80% in the time and effort required for goods clearance.
H.E Rashed Lahej Al Mansoori, Director General of Abu Dhabi Customs, said that the launch of the advanced customs platform “Trade Chain” comes within the framework of Abu Dhabi Customs’ ongoing efforts to facilitate trade, bolster security and safeguard society, by adopting advanced technologies to enhance its customs system and consolidate its pioneering position, in line with the directives of the wise leadership, and the economic visions for the Emirate of Abu Dhabi and the UAE, through continuous foresight for the future and keeping pace with innovation in trade facilitation and the opportunities that the Fourth Industrial Revolution technology brings to increase efficiency and effectiveness and save time, effort and cost within all customs transactions, especially through establishing coordinated, effective, integrated and digital border management systems, ensuring invisible customs and governed borders that are both open and secure.His Excellency explained that the Trade Chain platform, which aims to achieve a qualitative leap in digital customs transactions efficiency, allows better risk assessment and more efficient inspection of goods, with comprehensive monitoring of shipments, which will reflect positively on securing and facilitating trade and supply chains by expediting shipping process.
Furthermore, Abu Dhabi Customs, represented by Mr. Fahad Ghareeb Al Shamsi, Executive Director of Support Services Sector, signed a cooperation agreement with CargoX on the sidelines of the Trade Chain platform launch at GITEX, represented by Mr. Steve Cuckman, Managing Director, regarding data transfer via the blockchain platform.
The cooperation agreement aims to establish a framework for implementing blockchain projects and enhancing relations between the two parties to provide better services to Abu Dhabi Customs clients and clear shipments before arrival, as well as exchange expertise and information and meet business requirements and optimal use of the capabilities and expertise of both parties in areas of mutual interest. Areas of cooperation include benefiting from the use of the Advance Cargo Information System, providing a blockchain data transfer solution to be presented to importers and exporters of goods through maritime ports in the Emirate of Abu Dhabi to facilitate the flow of maritime imports and exports.
According to a study conducted by the World Economic Forum, the global market value of blockchain technology in the customs field is expected to grow to $20 billion by 2025, saving up to $200 billion annually in global customs costs.