The New International Land-Sea Trade Corridor (ILSTC) is a major trade and logistics passage established jointly by China and ASEAN members, which operates a pan-regional integrated transportation platform connecting shipping ports in the east and south of China with the rest of Asia and Europe. It aims to facilitate transportation and trade between countries that are part of the Regional Comprehensive Economic Partnership (RCEP).
In May 2023, NLSC and Cosco Shipping Lines deployed GSBN’s Cargo Release in the port of Chongqing, a dry port along the trade corridor, which is the first inland port to execute a paperless cargo release process over the blockchain, connecting the sea routes to rail on land. Following the successful deployment and harnessing New Land-sea Corridor expansive coverage, Cargo Release is set to rollout across more dry ports across the ILSTC.
Bertrand Chen, CEO of GSBN, said, “To fully unlock the potential of new trade partnerships and routes, it is important to embrace digital technology and empower even more stakeholders across the supply chain. We look forward to partnering with New Land-sea Corridor Operation, which is facilitating one of the world’s most important trade corridors, and connecting with more different parties to expand the coverage of our infrastructure, technology and ecosystem.”
Wang Yupei, Chairman of New Land-sea Corridor Operation said, “The ILSTC is more than just a physical intercontinental logistics passage, but it is also a digital one ready to support the future of global trade. We look forward to deepening our collaboration with GSBN in areas such as digital logistics, trade, financing and more.”
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