New Zealand’s chambers of commerce could become part of a worldwide consortium that is developing a global electronic commerce trading network for small and medium-sized businesses.
Chambers of commerce around the world are working with Oregon-based Itex Corporation to build the network.
Itex New Zealand, the local licensee for Itex, will represent the global trading network in New Zealand.
Spokeswoman Robyn Bartram says the company will soon hold discussions with the chambers of commerce in this country to agree on an approach to the New Zealand operation of the network.
The global trading network is sponsored by the Paris-based Consortium for Global Commerce, which represents thousands of chambers of commerce around the world which will serve as physical “anchors” for the network, providing local businesses access to the system.
The chambers of commerce will also offer “trusted third-party” validation for business transaction over the network according to Itex.
As an international trading company, Itex and its foreign licensees can participate as brokers or principals in transactions among network users. As well as New Zealand, Itex has licensed trade exchanges in Australia, Canada, Norway, Romania and Turkey.