DHL Express, the world’s leading international express serviceprovider, has further enhanced its AI-powered platform, “My GlobalTrade Services” (MyGTS), with a new “trade lane comparison”feature. This feature enables businesses of all sizes to findreferences to existing trade lane regulations and requirementsbetween the exporting and importing country or territory. Withthis, companies planning a market expansion strategy can leveragethe solution to make well-informed decisions to maximize efficiencyand gain competitive advantage.
MyGTS is an online self-serve portal that helps users easilyretrieve customs information to pre-plan shipments as they accessnew markets or launch new products. The new feature uses artificialintelligence and machine learning to provide an overview of thetrade agreements in place and estimated duties/taxes which areincluded in the landed cost of the different trade routes. Landedcosts can be defined as the total cost of getting a product fromthe factory to a customer’s door. Besides shipping fees andinsurance, it includes estimated customs duties and taxes forcross-border shipments.
On the platform, users will simply need to indicate the productthey are shipping and the desired exporting and importing countryor territory. This is especially useful to small and mediumenterprises (SMEs), often challenged by a lack of internalresources, knowledge, and expertise to navigate a complex landscapeof customs regulations and procedures.
“Companies including SMEs are doing what they can to boostbusiness resilience and global presence. However, SMEs tend to beimpeded by the intricacies of trade regulations and processes,slowing down their expansion plans,” said Yung C. Ooi, AsiaPacific Senior Vice President for Commercial, DHLExpress. “The new trade lane comparison capability helps SMEsenhance the understanding about customs requirements and landedcost. It aligns with our commitment to providing innovativesolutions to help SMEs lower major trade barriers and become moreconfident in cross-border trade activities.”
