IN 1988 Hong Kong's leading banks, shipping terminals and a select group of private companies and trade organisations began working on a system that would affect every trade shipment entering and leaving Hong Kong.
As this year ticks away, the Tradelink consortium is putting the finishing touches to the electronic data interchange (EDI) system that it says will keep Hong Kong at the forefront of international trade.
The system, called Community Electronic Trading Service (CETS), will operate with a universal EDI language developed by the United Nations specifically for electronic trading. It allows computer-to-computer exchanges, in this case between importers, exporters and the Government.
Tradelink's system, which gained substantial Government backing in 1992, will allow the electronic transfer of trade declarations, primarily export licences, manifest information and dutiable commodity documentation.
Tradelink has been guaranteed a seven-year exclusive contract, approved by the Joint Liaison Group (JLG), to perform the service once the system is up and running.
The consortium includes: Hongkong Bank, Standard Chartered Bank, Hong Kong's three shipping terminals, Hongkong Telecom, the Hong Kong Chamber of Commerce, China Resources, Swire Pacific and the Hong Kong Association of Freight Forwarding Agents. The Government owns 30 per cent of Tradelink.