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Given the superior state of its infrastructure, especially its emphatic
digital development policy, Malaysia could become a virtual port hub to
serve the global trade.
Proposing the concept of virtual reality centre, the general manager of KTM
Bhd, Abdul Radzak Malek said the centre could streamline trade activities
such as trade finance, customs documentation.
Presenting a paper on Multimodalism in South East Asia at the national
Multimodal Transport Conference 2004 in Kuala Lumpur recently Radzak said
the virtual reality centre could streamline the trade of Singapore Kunming
Rail Link (SKRL) member countries' trade.
He said the virtual port hub proposal was highlighted the Greater Mekong
Sub-region to promote further economic co-operation and also to tap into the
sizeable export market of Yunan in southern China.
Radzak said the major target was the 1.2 billion consumers in Chinese market
that can be connected by rail to mainland China via SKRL.
According to Radzak surveys released by China's South-Western Yunan
province, which borders Asean countries, show that trade volume between
China and Asean has since 1995 risen by and average of over 15 per cent
annually.
China-Asean economic and trade ties have hit the fast lane since the
framework agreement on China-Asean Comprehensive Economic Corporation was
signed in 2002, which will lead to the establishment of the world's largest
FTA by 2010.
Asean's position in China's market has been on the rise with its proportion
in China's total exports increasing from 5.7 per cent in 1991 to 6.9 per
cent in 2000 and its proportion in China's total imports rising from 6 per
cent in 1991 to 9.9 per cent in 2000.
In fact Asean-China Trade stands at RM286.71 million in the first nine
months of this year and is expected to register RM380 billion in 2004. Asean
has become China's 5th largest trading partner for the last 11 consecutive
years said Radzak.
He said the virtual port hub would offer importers and exporters in the
region long-term services for customs declarations and financial
transactions as well as handle customs formalities for exporters in
processing zones.
The virtual port will use on-line processing trade, export tax rebates,
express customs declarations, banking, insurance and shipping space
reservations.
By making access to the database available on a network, the virtual port is
expected to reduce cost and enhance trade efficiency, reduce smuggling, and
other illegal activities will either be prevented or easily detected.
The virtual port will employ several layers of security measures to
guarantee the integrity of users and guard against hackers and viruses. |
