News
[Chisinau. Moldova] – On the 4th August 2023, the International Centre for Trade Transparency (ICTTM) signed a Memorandum of Understanding with Invest Moldova to launch a pilot project of the innovative ADAMftd system in Moldova and invest in the region.
The ADAMftd (Advanced Data Analytics and Modeling for Foreign Trade Data) system is a big data, AI platform, under development by the ICTTM, designed to leverage historical and real-time trade data, trade rules and regulations, tariffs and other inputs to to decipher worldwide trading patterns and identify supply chain risks. The platform will provide corporations the means to:
- Identify new clients and suppliers
- Map out supply chains
- Assess risks associated with supply chain and partners
- Project future demand for tangible goods globally
Alongside a predictive modeling feature, ADAMftd is crafted to meet the needs of a diverse audience, including exporters, importers, trade finance businesses, insurance companies, logistics and supply chain firms, government customs bodies, hedge funds, commodity traders, and businesses seeking transparency in their supply chain.
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With a vision to transform international commerce, ICTTM aims to equip decision-makers with essential tools to navigate global market complexities. Key objectives include:
- Offering quick, efficient, and inexpensive services
- Presenting information in an easily digestible format
- Reducing costs for exporters entering new markets
- Equalizing the playing field for corporations and governments
ICTTM’s investment into Moldova reflects a strong belief in Moldova’s growth and Invest Moldova’s commitment to enhancing the Moldovan economy. This partnership with companies and government in Moldova stands as a testament to the great collaboration over the past year.
During the ceremony, James York, CEO of the ICTTM, stated “We are incredibly excited about our collaboration with Invest Moldova on the ADAMftd system pilot project. The decision to select Moldova as the regional base for our activities across Europe was a strategic and thoughtful one. We firmly believe in the strength and potential of Moldova’s IT and logistics sector. Its geographical positioning and vibrant business environment make it a natural hub for European activities. This initiative is more than an investment; it’s a testament to our confidence in Moldova’s capacity to be a front-runner in the transformation of global trade. We are not only investing in a system or a region, but in a future that promises innovation, growth, and robust partnerships.”
About Invest Moldova
Invest Moldova, operating under the Prime Minister’s office, serves as the prime source of information and assistance for potential investors and ranks number 5 out of 23 IPA’s according to @Emerging Europe in the Investment Promotion Report 2021.
Invest Moldova offers tailored services for potential investors through the investment decision process and support for existing investors in extending operations. With a dedicated team of investment attraction staff, sectorial consultants, and regional officers, Invest Moldova stands prepared to provide relevant information and links to businesses and government.
This collaboration between ICTTM and Invest Moldova is a monumental step towards innovation, growth, and transparency in international trade. The pilot project of the ADAMftd system in Moldova sets the stage for a new era of accessible and actionable data that promises to transform international trade.
About ICTTM:
The International Centre for Trade Transparency Limited (ICTTM) stands at the forefront of fostering transparency and adherence to compliance within the realm of international trade. The organisation is deeply engaged in the creation and deployment of innovative AI-driven tools, meticulously designed to analyze and navigate global supply chains.
The ICTTMs sophisticated technology is instrumental in pinpointing various risk factors within supply chains. These include potential areas of fraud, diversions in the supply chain, payment and supplier risks, sanctions liabilities, threats linked to environmental catastrophes, and violations of human rights. Furthermore, ICTTM’s tools extend beyond risk management. They are crafted to map the complex landscape of supply chains, assist companies in discovering untapped markets, predict trends in market growth and stability, and ascertain the specific requirements needed for products to penetrate diverse markets around the world.
Through their unwavering commitment to technological advancement and innovation, ICTTM is not only responding to the current demands of global trade but actively shaping its future, ensuring a more transparent, secure, and efficient international trade ecosystem.
The Directors of the Board of the ICTTM include: Hon David Wells, H.E. Ambassador Sven Jurgenson, Viscount Lord Waverley, Hon Charles Mok and Hon Iain Evans.
