This was effected at the 60th Pan Asian E-Commerce Alliance annual conference at Cyberjaya, Malaysia. This process will ease Customs clearance procedures and will adhere to the issuing country’s laws and regulations.
Certificate of Origin (CoO) is among the most critical documents in the logistics industry. In international trade transactions, a product's tariff of and other trade measures ware applied according to a CoO. It is also essential to say whether a product is legally allowed to be imported.
According to the agreement, both stakeholders will establish an appropriate and effective co-operative framework for the facilitation of the eCoO project. Most notably, they both agree to exchange cross-border eCoO to facilitate the customs clearance process.
Validation is the most essential factor. The given document must be equal to the existing physical document to facilitate Customs clearance. The agreement signed between the two entities equates to a paper CoO and is still acceptable as a common supporting document for customs clearance.
The eCoO can be securely transmitted through Public Key Infrastructure (PKI) protection, which facilitates secure electronic transfer of information. PKI comes with a certificate authority to store, issue and sign a digital certificate. To ensure credibility of the entities requesting a digital certificate, PKI mechanism has a Registration Authority and a central directory to securely locate and index keys.