LABUAN, Sept 7 — China Construction Bank Corporation (CCB) Labuan, CCIC Malaysia Commodities Inspection Sdn Bhd (CCIC Malaysia) and Finda System Management Co, Ltd (Finda System) have entered into a Digital Authentication Cooperation Agreement to foster greater collaboration in promoting Malaysia-China bilateral trade and economic development through digitalisation.
Under the agreement, which was signed virtually on Aug 27, CCB Labuan, CCIC Malaysia and Finda System will collaborate in promoting international food safety and quality through cooperation in digital traceability mechanisms and related infrastructure, Food and Agricultural Product Print digital authentication and other digital solutions.
In a statement, CCB Labuan principal officer Felix Feng said CCB Labuan, being a major international financial institution, is committed to providing enhanced digital financial solutions with the goal to facilitate efficient cross-border trade.
“There is a real desire to leverage our resources and expertise to offer digital banking solutions that would benefit our customers.
“As a leading financial institution, we are excited to continuously enhance our digital products in order to fulfil our clients’ needs and to support the digital economy’s sustainable growth at the local level,” he said.
CCIC Malaysia managing director Fu Jun said the agreement formalises a mutual agreement and interaction which is significant in promoting Malaysia-China bilateral trade by delivering breakthrough and innovative digital transformation solutions.
“We are delighted to partner with Finda System and CCB Labuan to initiate the digital transformation including the agriculture sector,” he said.
The products identified for digital authentication include Malaysia’s king of fruits the durian, the popular bird’s nest, as well as traditional Chinese medicine.
Finda System chief executive officer Bob Chen said the collaboration between CCB Labuan and CCIC Malaysia would promote Malaysia-China bilateral trade.
“We are also developing customised services to enable trust in the “Digital World” or “D-World” enhanced with digital authentication in order to facilitate more robust and sustainable digital trading,” he said.
CCB Labuan, CCIC Malaysia and Finda System are looking forward to establishing a long-term relationship aimed at supporting each other’s initiatives and development in various aspects through further collaboration and co-operation. — Bernama
