SINGAPORE (Sept 20): DeClout’s 50.01%-owned subsidiary vCargo Cloud (VCC) has signed a co-operation agreement with Russia-based LLC RSTradehouse (RSTrade) to expand trade opportunities between companies in Russia and Singapore, including through the integration of their respective platforms’ services.
As the management company of the Russia-Singapore Business Council, RSTrade operates an electronic information-service business-to-business (B2B) platform, RSTrade. On the other hand, VCC’s CamelONE platform connects various trade players across 14 countries in Asia, Central Asia, and Africa.
Under the terms of the co-operation agreement, VCC and RSTrade will mutually integrate their platforms’ services, and present and promote each other’s goods & services to trade customers Singapore and Asean, as well as Russia and Eurasian Economic Union (EAEU) countries.
Linking both platforms is expected to boost trade in the areas of contract manufacturing, logistic services and custom compliance services between both countries and their respective regions.
According to VCC, the integration will provide it access to companies already listed on the RSTrade platform, thus allowing its CamelONE platform to establish an entry point into a much large market of 16 countries including Russia.
As such, VCC says the latest agreement is in line with the company’s business strategy to expand its global footprint and digitise global trade, allowing its stakeholders to move towards fully transparent paperless transactions.
“We believe that this integration of our two systems can result in an increase in trade and in the number of joint engineering projects between not only Russia and Singapore but also between EAEU and Asean countries,” says Sergey Pronin, CEO of RSTrade.
“We can work together to facilitate all export-import services, as the systems can automate digitally the full cycle – from idea and contract manufacturing up to logistics and delivery,” he adds.
The signing ceremony between vCargo Cloud and RSTrade took place at the ninth session of the Russia-Singapore Inter-Governmental Commission (IGC9) held on Wednesday.
Singapore Deputy Prime Minister Tharman Shanmugaratnam and Russia Deputy Prime Minister for Transport, Communications and Digital Economy, Maxim Akimov, bore witness to the signing.
Shares in DeClout were flat at 8.2 cents before the midday trading break.