(4 September, Hong Kong) - The Pan-Asian E-Commerce Alliance (PAA) has achieved good progress in enabling regional businesses to exchange trade documentation seamlessly and securely, with more than 10 cross-border electronic trade chains now in operations within the 8 economies. When fully implemented, a potential of 200,000 companies stand to gain from efficiencies and cost savings experienced by connecting to the secure PAA infrastructure that links them with the major trading partners in the various economies. Studies have shown that cost savings can be 20 per cent or more.

Established in July 2000, the PAA is the first regional e-Commerce alliance in Asia that aims to promote and provide secure and reliable IT infrastructure and facilities for efficient global trade and logistics. Members comprise Tradelink, CrimsonLogic, KTNET, Trade-Van, CIECC, TEDI Club, Dagang Net and TEDMEV.

At the 12th PAA Steering Committee meeting hosted by CrimsonLogic Pte Ltd in Singapore from 27th to 28th August 2003, members were joined by representatives from Communications Authority of Thailand, TradeSiam and Sri Lanka Electronic Network Services who attended the meeting as observers.

Mr Mathivanan, Chairman of the PAA and CEO of CrimsonLogic said, "We have made substantial progress in recruiting major corporations for the PAA secure cross-border transaction services including Hyundai Motors, GM-Daewoo, Doosan Corporation, Mitsui & Co., and Hyundai Hysco. Hyundai Motors has estimated that by using the PAA services, it will save over US$1 million in setting up its own e-platform and another US$6 million per year in inventory costs alone by reducing the lead time required for ordering. In addition, Dimerco, a large multinational freight forwarder headquartered in Taiwan which currently has offices in 54 cities over 17 countries, is actively working with the PAA to improve the efficiency of their cross border logistics services, including streamlined trade processes such as customs clearances."

The PAA 12th Steering Committee Meeting was held in Singapore from 27th to 28th August 2003 and was attended by its members which are all major e-commerce service providers from the eight economies. The PAA also welcomed representatives from Communications Authority of Thailand, TradeSiam and Sri Lanka Electronic Network Services who attended the meeting as observers.

The Asia PKI Forum, represented by Mr Shigeru Kameda, presented the workings of the Asia PKI working groups and suggested a collaboration between the two organisations. This was welcomed by the PAA and there will be a joint meeting in China this November.

Other initiatives discussed by the Steering Committee included: