ANDALUSIA, SPAIN – July 25, 2023 – The International Centre for Trade Transparency Limited (ICTTM) has recently met with the Agency of Innovation and Development of Andalusia (IDEA) to engage in key discussions surrounding priority project piloting and investment into Andalusia for the Advanced Data Analytics and Modeling for Foreign Trade Data (ADAMftd).
The meeting focused on critical topics, including the imperative need for international supply chain transparency, prospects for growth within the Andalusian economy, and the pivotal role of artificial intelligence in determining international trade flows.
At the core of these discussions is the development of the ADAMftd platform, aimed at escalating supply chain transparency and traceability. The platform will offer businesses and customs agencies vital access to extensive data and analytics, streamlining the tracking of goods and the identification of risk areas.
The enhanced visibility that the ADAMftd platform offers will render numerous advantages, including:
- End-to-End Tracking: Comprehensive tracking of goods from their origin to final destination, aiding in identifying inconsistencies, potential obstructions, and risk zones.
- Beneficial Ownership Identification: Leveraging data to ascertain the legitimate owners of goods, essential in addressing issues like money laundering, tax evasion, and other unlawful practices.
- Sourcing Insights: Providing insights into the sourcing of goods by both company and country, enabling informed decisions regarding supply chains and risk exposures.
- Compliance and Due Diligence: Facilitating adherence to international trade regulations and effectuating comprehensive due diligence on supply chain associates.
- Collaboration and Trust: Enhancing collaboration and trust among stakeholders, resulting in improved operations, effective regulation enforcement, and efficient supply chains.
The future of the ADAMftd platform is focused on delivering essential tools and resources for augmenting transparency and traceability in the global supply chain. The launch of this platform aims to aid businesses and customs agencies in better risk management, compliance assurance, and overall enhancement of operational efficiency and effectiveness.
James York, CEO of the International Centre for Trade Transparency, expressed his enthusiasm for the project, stating, “We are very pleased to be able to support the Andalusian economy and companies therein and to expand our network of partners within Europe.”
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 Agency of Innovation and Development of Andalusia IDEA (AGENCIA IDEA), is the regional development Agency of the Andalusian Government, in addition to an instrument primarily specialized in the promotion of innovation in the Andalusian society.