Archive · 25 Nov 2025
SGTraDex and IMDA Win Award for Digital Trade Initiative
SGTraDex and IMDA won an award for making trade between countries easier and faster.
They used special technology called blockchain to create digital documents that can be shared quickly and safely between Singapore and China.
This new system makes it so that important papers don't have to be sent by mail, which saves time and money.
Before, it took 20 days to get paid for shipments, but now it only takes 5 days.
It also makes the work of handling papers much faster and cheaper.
This is a big step towards making trade more digital and efficient worldwide.
SGTraDex and IMDA won the Pro-Enterprise Impact & Partnership Award for their digital trade initiative.
The initiative enabled the first live interoperable digital Documents against Payment (D/P) for paperless trade between Singapore and China.
The project used blockchain technology to facilitate the secure and efficient exchange of electronic Bills of Lading and supporting digital trade documents.
The initiative reduced shipment-to-payment settlement time by 75%, documentation handling time by 60%, and bank document circulation costs by 30%.
SGTraDex is a public-private partnership aimed at streamlining information flows in the supply chain ecosystem.
- Who
- SGTraDex and IMDA
- What
- Winning the Pro-Enterprise Impact & Partnership Award for the Interoperable Digital Documents Against Payment Trade Cooperation initiative
- When
- November 25, 2025
- Where
- Singapore
- Why
- For successfully deploying the first live interoperable digital Documents against Payment (D/P) for paperless trade
- Award
- Pro-Enterprise Impact & Partnership Award
- Initiative
- Interoperable Digital Documents Against Payment Trade Cooperation
- Partners
- SGTraDex and IMDA
- Technology Used
- Blockchain (TradeTrust Framework)
- Impact on Payment Settlement Time
- Reduced by 75% (from 20 days to 5 days)
- Impact on Documentation Handling Time
- Reduced by 60%
- Impact on Bank Document Circulation Costs
- Reduced by 30%
- Launch Date of SGTraDex
- June 1, 2022