GCTP offers global buyers to buy commodities from Pakistan digitally
- April 4, 2022
- Posted by: Sobia Ashraf
- Categories: News and Events, News and Events
Pakistan produces a rich variety of high-quality agriculture and non-agriculture commodities. Today international buyers are purchasing a wide array of these commodities from Pakistan. However, to make the process seamless for international buyers, Global Commodity Trading Platform (GCTP) has combined a trading platform with complete logistics to deliver the commodity to the buyer’s port of choice. This is not only the first platform in Pakistan but also the first platform globally to combine a trading platform with complete logistics for bulk commodities.
GCTP is a wholly-owned subsidiary of Pakistan Mercantile Exchange Limited (PMEX) which is a National Level Institution and the only multi-commodity futures exchange in Pakistan. GCTP is an e-commerce platform for trading commodities. This digital platform connects international buyers with verified agriculture and non-agriculture commodities sellers in Pakistan. Also, it takes care of the entire trade process such as buyers/sellers trading agreements, quality inspections, customs & narcotics inspections, marine insurances and end-to-end delivery of the commodities to the buyers at the designated ports anywhere in the world.
GCTP has partnered with HashMove to provide an advanced logistics platform. This platform brings shipping lines, freight forwarders, customs agents, insurance companies, internally accepted assayers and bonded warehouses to complete the entire ecosystem of the logistics.
The global buyers will have the advantage to reach a wide variety of verified sellers selling commodities certified by internationally accepted assayers at GCTP. They will not only have the opportunity to purchase commodities with quality certification as per the international standards but also at competitive prices and get the delivery of purchased goods at the port of their choice with the click of a few buttons. GCTP provides the buyers with the security of their money until the trade is successfully executed and the goods are dispatched from Pakistani port to their respected destination.
For the first time in Pakistan, GCTP will offer an opportunity to the sellers to sell their commodities globally and get prompt payment without being registered as exporters. Also, the sellers will not have to prepare export-related documents, which will be handled by GCTP on their behalf. Moreover, by listing commodities at GCTP, the sellers will be able to showcase their products in new markets and attract buyers from all over the world.
GCTP will revolutionize the way commodities are being traded and delivered to international buyers from Pakistan. It will develop a new community of commodity sellers and buyers and enable them to go online, interact with GCTP, harness the power of online commodity trading and connect globally with a few clicks of a button from the comfort of their homes.
GCTP will go live in the second quarter of 2022.
This article was published in special supplement of Khaleej Times on March 23, 2022.