Trade Tech, Inc., a global logistics platform, and TradeWaltz Inc., a SaaS-based collaborative trade facilitation platform, have announced that they have signed a Memorandum of Understanding (MoU) to promote the GRACE (Global Reliable Authorized Commerce Express) project, aimed at digitising and streamlining trade procedures for Authorized Economic Operators (AEOs) between Japan and the U.S.
The Authorized Economic Operator (AEO) system certifies trade operators who meet certain security and compliance standards, granting them benefits such as simplified and expedited Customs procedures. Currently, Japan and the U.S. have signed a Mutual Recognition Arrangement (MRA) for the AEO system, advancing trade facilitation between the two countries based on mutual trust.
The MoU confirms the commencement of discussions on the mutual integration of the trade platforms provided by Trade Tech and TradeWaltz. Through the collaboration of both platforms, a system will be developed to fully leverage the benefits of the AEO mutual recognition, enabling the immediate and seamless sharing of trade-related document data required between exporters and importers between Japan and the U.S.
Furthermore, it aims to enable Customs brokers in both countries to utilise this data to submit Customs declarations to the relevant Customs authorities, thereby significantly reducing inefficient processes such as the exchange of paper documents and manual data entry, facilitating the Customs clearance of cargo shipments well in advance of vessel arrival. Specifically, for AEO operators under the AEO Mutual Recognition Arrangement (MRA)*, this will result in reduced Customs processing times and enable the Customs clearance of cargo shipments even more smoothly. As a result, it will contribute to shorter cargo lead times, optimised logistics costs, and overall supply chain efficiency.
Both Trade Tech and TradeWaltz will continue to promote the digitalisation of trade and international data collaboration in a manner that ensures security and reliability, contributing to the strengthening of global supply chains.
Bryn E. Heimbeck, President and Co-Founder of Trade Tech, noted that, “The combination of regulatory compliance tied to transportation, logistics, and supply chain management creates a significant drive to digitisation of the global supply chain. Effectively, this will create a Pan-Japan / USA data standard for global supply chain management. AEO Operators, as mutual trading partners on both sides of the ocean, will be able to closely collaborate in the movement of goods. By aligning compliance and logistics, the partnership represents an important step in reducing friction, improving efficiency, and supporting the seamless flow of cargo across borders.”
Takahiro Sato, President & CEO, TradeWaltz Inc., said, “Through this initiative, we aim to expand the adoption of the AEO system by helping more companies realise its convenience and value. At the same time, we will accelerate the digitalisation and efficiency of trade procedures between Japan and the U.S., contributing to the optimisation of international logistics.”
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