Amber Road Acquires EasyCargo, Opening “China-Specific Trade Capabilities”
Amber Road, provider of global trade management (GTM) solutions, announced Sept. 18 that it acquired Shanghai-based EasyCargo, a GTM provider that focuses on a subset called China Trade Management (CTM). According to Amber Road, CTM provides “extensive automation to support the Chinese government’s regulations for an import regime called Processing Trade.” Amber Road said this regime affects companies that import materials into China and use them to manufacture final products that are exported to foreign markets. When properly administered, Processing Trade transactions are exempt from import duties and value-added-taxes, therefore reducing product costs by 25 percent or more, Amber Road said.
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Amber Road CEO Jim Preuninger said many of their customers already do business with or in China, and that the acquisition will help the provider “offer deep China-specific trade capabilities to our existing customer base as well as access the growing Chinese market.” According to EasyCargo founder Kae-por Chang, the combination of EasyCargo’s CTM capabilities with Amber Road’s GTM solutions will "offer a complete solution to companies doing business in China and abroad.”