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The East Is Rising
NeuVis helps launch online marketplace to expand
trade with Asia
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Business New Haven
7/9/2001
By: BNH
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SHELTON - NeuVis Software Inc., which creates rapid application development (RAD) software for e-business applications, has announced the launch of a B2B online marketplace by its client, AsianVendors Inc., an export-import infomediary on Asia (www.asianvendors.com). The site was built by Technology Solutions Partners LLC using NeuVis' NeuArchitect software. The function of the new initiative is to facilitate international trade with reliable vendors in Asia.
Asian B2B e-commerce is predicted to grow dramatically over the next four years. Forrester Research estimates that Asian B2B e-commerce will reach $1.53 trillion by 2004. The Stamford-based Gartner Group Inc. forecasts $995.8 billion over the same period.
Nevertheless, companies seeking to establish or increase purchasing from Asia face real hurdles in identifying reliable vendors. Similarly, vendors in Asia face difficulties in cost-effectively identifying and reaching buyers for their merchandise.
AsianVendors, say NeuVis officials, provides a resource where users anywhere in the world can identify qualified vendors for a wide range of products using a variety of unbiased search modes. Each online catalogue on the AsianVendors site provides product pictures, product specs, price/quantity/availability terms, vendor contacts, and background information on the vendor.
AsianVendors currently covers India, Hong Kong, Singapore, Thailand, Sri Lanka, Macau and Indonesia, with other countries currently in discussions. The site currently has 17,000 products and more than 50,000 authenticated vendor listings that have been loaded during the pre-launch period.
Several major companies, including N.H.B. Bearings Ltd., Asha Fashions and Chariot International, are already participating in the AsianVendors network.
"By providing a marketplace where buyers can discover, evaluate and communicate with qualified Asian companies who in turn can cost-effectively gain exposure to worldwide buyers, AsianVendors is well-positioned to thrive in the rapidly growing Asian B2B e-commerce marketplace," said Bill Lyons, NeuVis' president and CEO.
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