Shanghai-based EasyCargo Acquired by Amber Road
Global trade management (GTM) solutions provider Amber Road has acquired EasyCargo, a Shanghai-based company in the same field specializing in complex Chinese trade regulations.
EasyCargo is a cloud-based solutions company with a specific focus on a subset of global trade management called China Trade Management, or CTM. EasyCargo’s CTM solution provides extensive automation to support the Chinese government’s regulations for an import regime called Processing Trade.
Processing Trade affects companies that import materials and components into China and use those materials and components to manufacture finished goods for export to foreign markets. When properly administered, Processing Trade transactions are exempt from import duties and value-added-taxes on export.
Because Processing Trade can reduce product costs by 25 percent or more, qualifying goods for the program has become increasingly popular. Goods qualifying for the Processing Trade program now account for more than 30 percent of all Chinese imports.
In addition to its cloud-based solutions, EasyCargo has an in-house team of trade experts who monitor, collect, interpret and codify Chinese trade regulations. Those professionals will be folded into Amber Road’s Global Knowledge® team, while the rest of the EasyCargo employees will complement Amber Road’s engineering, professional services, customer support and business development staff.
About Amber Road
Amber Road provides a single, on-demand platform that automates and streamlines global trade by helping organizations to comply with country-specific trade regulations, as well as plan, execute and track global shipments.