Who is Commodities Global Trade Sdn Bhd (CGTSB)?
It is the company which has been appointed by Bohai Commodity Exchange (BOCE) as the regional service provider for Malaysia and Asean.
CGTSB’s main role is to provide an e-commerce platform and assist sellers to navigate the online registration and trading system.
The e-commerce trading platform, called BOCE Malaysia/ Asean, enables businesses in Malaysia and the Asean region to enter the China market via a safe, secure and efficient digital platform.
CGTSB has a comprehensive understanding of the China market and will offer services throughout Asean from its hub in Putrajaya, Malaysia.
What is BOCE?
BOCE is a cross-border industrial e-commerce platform for imports under the management of Tianjin Bohai Commodity Exchange Co Ltd.
Through creative trading modes and visual management of the whole trade process, BOCE Global can provide safe, convenient and efficient cross-border settlement services.
The platform does not only help overseas and domestic enterprises to establish trade credit system, but it also strengthens economic and trade cooperation between enterprises outside China.
The platform also offers entry into the country’s dynamic and fast-growing economy and its consumers.
What can businesses achieve through this platform?
The BOCE Global platform will assist traders to leverage on China’s “Belt and Road Initiative” — an initiative that links more than 60 countries in Asia, Europe and beyond.
The platform will provide a lot of business opportunities throughout the region. It will also allow businesses to export their products to China, the most populous nation in the world and the second-largest economy after the US.
The platform will also connect thousands of buyers and sellers in a conducive and seamless environment, which is crucial in today’s competitive market.
CGTSB will become the “one-stop centre” that will facilitate the registration, bidding and documentation for exporters. It is an easy and cost-effective way to perform cross-border trade.
How important is BOCE Malaysia/ Asean digital e-commerce platform to Malaysia?
CGTSB’s appointment makes Malaysia the sixth country in the world to operate this platform outside of China and becomes the new e-commerce gateway for Asean.
The platform puts Malaysia at the forefront of cross-border trade in the fast-rising digital economy.
Other countries that have the platform are the US, New Zealand, Australia, Canada and Ukraine.
The access into the China market will boost regional trade and encourage economic cooperation between the regional grouping with over 600 million population with China, the most dynamic economic powerhouse.
How can CGTSB help businesses?
CGTSB will guide sellers from Malaysia and Asean through all the online trading process from sellers’ registration, uploading products, contract confirmation, pay deposit, loading distribution, payment settlement, customs clearance and logistics, and process accomplishment.
The ability to provide a one-stop solution will reduce intermediate steps for sellers, offer reasonable pricing mechanism, lower cross-border trade cost and increase market exposure.