RealTime IT News

Optus Joins in Global Web Trading Venture

[Sydney, AUSTRALIA] Cable & Wireless Optus (CWO) has joined Commerce One and 22 other global firms in the creation of a Global Trading Web Association (GTW Association), a common B2B trading platform.

Optus said the GTW Association is the world's first commercial, international organization focused on the commercial development and expansion of international business-to-business (B2B) e-commerce.

CWO will work with members of the GTW Association to promote secure international trade in goods and services as an alternative to traditional, 'old economy' commerce.

The Association will create rules, standards, guidelines, policies and processes to enable seamless buying and selling globally over the Web.

In Australia, CWO said it will represent the interests of Australian businesses as the online environment breaks down traditional boundaries.

"Only a uniform, open platform allows business - buyers and suppliers - to get maximum cost saving benefits and efficiencies from international electronic trade," said CWO's director of e-solutions David Stokes-McKeon.

CWO MarketSite, the online B2B marketplace created by CWO, will be connected to the Global Trading Web, allowing Australian and New Zealand businesses to sells goods online to overseas markets as well as sourcing goods from overseas.

"Not only will Australian and New Zealand suppliers have their goods available online to international markets, but the GTW Association will create and international trading directory to allow them to reach new buyers," Stokes-McKeon said.

"A common trading platform will allow purchase orders to be sent and received seamlessly around the world," he said.

Other businesses participating in the exchange include Citibank, Deutsche Telecom, NTT Communications, Toronto Dominion Bank and Energy Exchange UK.