Skopje, 5 August 2023 (MIA) -  Macedonian Chambers of Commerce and the International Centre for Trade Transparency (ICTTM) marked a historic occasion by sealing a Memorandum of Understanding in Skopje.

Operating as a non-governmental legal extension of the International Trade Council, the ICTTM focuses its mission on overcoming technical challenges in trade, enhancing supply chain integrity, boosting traceability, and amplifying transparency. Their commitment to "de-risking the supply chain" is unwavering.

This initiative represents an ambitious leap towards reinforcing innovation, efficiency, and transparency in international trade, underscoring North Macedonia's rise as a vital nexus for trade within the Balkans and extending throughout Europe.

The meeting was attended by the president of Macedonian Chambers of Commerce Trajan Angeloski, vice-presidents Sasho Dukoski and Goran Gjorgjevski, Zagorka Blazevska, director of Vita Nova and Tristan Evans, vice president of ITC (International Trade Council), and James S. York, Chief Executive Officer of ICTTM, also delivered remarks via video link.

Acknowledging North Macedonia's influential role in supply chains and its burgeoning stature as an economic dynamo in Europe, the ICTTM and Macedonian Chambers of Commerce collaboration will capitalize on the country's strategic location, thriving economy, and talented workforce to pioneer a hub for international trade and supply chain operations. This includes the introduction of ICTTM's forthcoming ADAMftd (Advanced Data Analytics and Modeling for Foreign Trade Data) system.

The MOU outlines the ICTTM's plans to embark on a pilot project in North Macedonia, involving organizations identified by Macedonian Chambers of Commerce, with the collective goal of promoting the ADAMftd platform upon its launch. Leveraging the first-mover advantage, Macedonian Chambers of Commerce aspires to furnish companies in North Macedonia with invaluable tools to catalyze international expansion and deliver indispensable global data, thereby propelling exporters into new markets.

ADAMftd, a sophisticated AI-driven platform under ICTTM's development, is engineered to exploit both historical and real-time trade data, regulations, tariffs, and other essential elements to decode global trade patterns and pinpoint supply chain vulnerabilities. Its capabilities extend to: sourcing new clients and suppliers; charting supply chains; evaluating risks linked with supply chain and partnerships and forecasting global demand for tangible products.