Saudi Customs has inked a partnership with Riyadh-based consultancy and technical support services provider Tabadul to pilot a project that would integrate its customs tracking platform Fasah with blockchain-enabled shipping solution TradeLens.
Developed through the collaboration between IBM and Danish transport and logistics giant Maersk, TradeLens solution leverages on blockchain technology to enhance the world’s global supply chain.
Powered by Tabadul, Fasah is Saudi Arabia’s national trade portal developed to build a unified gateway for secure and efficient electronic data exchange between government and private parties involved in overseas trading.
Launched in an effort to link Fasah with TradeLens, the pilot aims to enhance selected services by boosting immutability, traceability, auditability, and compliance, while reducing reconciliation. The project is part of Saudi Custom’s broader initiative to achieve the goals outlined in Saudi Arabia’s Vision for the year 2030.
In a bid to become a global logistics hub, the project is promoting the widespread adoption of the nascent technology, leveraging on TradeLens’ blockchain solution, Saudi Custom’s expertise, as well as Maersk’s shipping expertise to provide remarkable customs services.
As it stands, TradeLens’ ecosystem is comprised of over 20 port and terminal operators, accounting for roughly 234 marine gateways across five continents, including Patrick Terminals, Modern Terminals in Hong Kong, PSA Singapore, ICTSI, Port of Rotterdam, Port of Halifax, and Port of Bilbao.
Among other global organizations that have also participated in the platform launch also includes third-party logistics providers, freight forwarders, shipping lines, as well as customs authorities, with Canada Border Services Agency (CBSA) being among the first border agencies to join the platform.
As aggregated data indicated, using TradeLens effectively minimizes shipment time by 40 percent, thereby saving thousands of dollars.