DHL Express has further enhanced its AI-powered platform, "My Global Trade Services" (MyGTS), with a new "trade lane comparison" feature.

DHL said this feature enables businesses of all sizes to find references to existing trade lane regulations and requirements between the exporting and importing country or territory.

"With this, companies planning a market expansion strategy can leverage the solution to make well-informed decisions to maximize efficiency and gain competitive advantage," it said in a statement.

MyGTS is an online self-serve portal that helps users easily retrieve customs information to pre-plan shipments as they access new markets or launch new products.

DHL noted that the new feature uses artificial intelligence and machine learning to provide an overview of the trade agreements in place and estimated duties/taxes, which are included in the landed cost of the different trade routes.

Landed costs can be defined as the total cost of getting a product from the factory to a customer's door.

Besides shipping fees and insurance, it includes estimated customs duties and taxes for cross-border shipments.

“Companies, including SMEs, are doing what they can to boost business resilience and global presence. However, SMEs tend to be impeded by the intricacies of trade regulations and processes, slowing down their expansion plans," said Yung C. Ooi, Asia Pacific Senior Vice President for Commercial, DHL Express.

"The new trade lane comparison capability helps SMEs enhance the understanding of customs requirements and landed cost. It aligns with our commitment to providing innovative solutions to help SMEs lower major trade barriers and become more confident in cross-border trade activities," Ooi added.

DHL noted that with a heightened focus on risk mitigation and resilience, companies can leverage this feature to reduce reliance on single-sourcing locations.

Moreover, businesses can tap into the burgeoning Asia market, which presents immense market opportunities fueled by many manufacturing powerhouses and emerging consumer markets.