Smartag enters China to tap Halal trade

by **Cals** Fri 11 Apr 2014, 01:27

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Thursday, 10 April 2014 13:38

KUALA LUMPUR (April 10): Smartag Solutions Bhd announced that it has entered into a partnership with Ningxia Salimy Muslim Commodity Trading Co. Ltd to develop China International Halal Online Trade and Traceability Ecosystem.

“The partnership agreement provides a good platform for Smartag to commercialise its traceability on an international level whereby the market potential is huge. The agreement is expected to contribute positively to the future earnings of the company,” said Smartag in its filing with Bursa Malaysia.

Providing background on its partner in China, Smartag said Salimy, established in Yinchuan, Ningxia, is principally involved in trading and promoting Ningxia’s Halal foods and Muslim products.

“It is a well-respected and trustworthy Niangxia Muslim enterprise that leads Ningxia Muslim community towards international trading.”

Smartag said this partnership will provide a platform to allow companies from all over the world to display halal food, Muslim supplies in international trade.

“Companies from all over the world can open a virtual store in the ecommerce platform if their product complies with International Halal Standard.

“Product listed in the ecommerce platform is traceable by using RFID and 2D Barcode. Further to that, the platform offers International Financial Clearance that eases the trading between China with the rest of the world.”

In the agreement, Salimy is responsible to deal with local and central government departments on regulations matters, getting government aid / subsidize / grant, coordinating the join bid project, forming project team as well as recruiting merchant to participle in the ecommerce portal.

And Smartag is responsible to develop e-commerce portal with traceability, complete client platform software and install servers to achieve international Halal certification and realization of International Financial Settlement Green Lane.

Ningxia is the sole Muslim province in China. It covers an area of 66,400 square kilometers. Its population is 6.4 million with Muslims accounting for 36%.

In 2013, the total imports and exports of Ningxia rose 45% to US$3.22 billion.