SUNNYVALE, Calif.-American Phoenix Group Inc., soon to be renamed TAL Wireless Networks Inc., began a partnership research agreement with Advanced Lab for Trade Efficiency.
The companies will incorporate TAL technologies into ALTE’s electronic trading solutions. TAL’s wireless network technology will be used as a communications medium to enable organizations to attain high-speed connectivity to the Global Trade Point Network, especially in developing nations where landline infrastructure is unavailable or too expensive to deploy, said the companies.
According to the companies, the United Nations estimates that inefficiencies in international trade cost the global economy billions of dollars every year. Trade Point was designed to overcome these inefficiencies by linking buyers and sellers worldwide and facilitating trade that is largely free of bureaucratic interference, the companies added.
“We are delighted that TAL could join us in this important project by making it easier for organizations in the developing world to trade more efficiently using this new technology,” said an ALTE spokesperson. “We can go some way toward reducing levels of foreign debt, which burden many developing countries.”
