"There is a lot of potential for ASEAN members to increase trade with each other," he said, adding that intra-ASEAN trade is at the 23-25 per cent level.

"Thus, the ASEAN single window initiative is also able to strengthen the country's position in the ASEAN economic community, and open up greater opportunities for regional trade and economic integration," he said.

MITI is also committed to work closely with the Finance Ministry and China's General Administration of Customs to ensure the successful implementation of "one interoperability window" to foster a more efficient, transparent, secure and resilient trade landscape.

On June 19, 2024, Malaysia and China agreed to implement another cycle of the five-year programme for economic and trade cooperation established in 2013.

This includes working together to ensure the successful implementation of the single window interoperability.

On ZTrade, Tengku Zafrul said companies can benefit from reduced costs, speedier clearances and improved communication with regulatory agencies.

"This raises competitiveness at the global level and fosters a conducive environment for businesses to thrive on innovation," he said.

The collaboration includes promoting the platform to businesses and government ministries and agencies, providing training and support to platform users, and introducing and jointly market services to FMFF members.

ZTrade is a Web 3 platform that verifies and exchanges digitised trade documents for the trading of goods between China and its global trading partners.

— BERNAMA