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Paperless Trade Insights Q1 2021

Paperless Trade
Trade Digitization
trade finance
Digital Trade
electronic bill of lading
Abu Dhabi
SMP Kolkata
Sino Iron
Metals & Minerals
  Paperless Insights Q1 2021 HEADER

In our latest quarterly issue: Governments take key steps towards legal acceptability of eDocs, digital trade adoption efforts accelerate to alleviate Covid-19 and Brexit disruptions, trade organizations make progress in supporting regional / global paperless trade & trade finance implementation + much more! + SUBSCRIBE

Industry News & Views

sing thumbSingapore passes law granting eB/Ls same legal status as paper: A major milestone for paperless trade, as Singapore becomes the first of the world’s leading maritime / trading hubs to grant an eB/L the same legal status as a paper B/L (source: essDOCS via IMDA). + READ MORE

Brexit Forbes Can Technology Solve The Post-Brexit Woes Of British Exporters?: Weighing in on the role of tech to alleviate mounting post-Brexit supply chain issues, as the British Chamber of Commerce reports 49% of its members face extra costs & delays for EU flows (source: Forbes). + READ MORE

adgm thumbADGM enacts Electronic Transactions Framework: Abu Dhabi Global Market (ADGM) follows Bahrain & Singapore in enacting the UNCITRAL MLETR, granting eB/Ls, eWarehouse Warrants plus other trade docs the same legal status as paper (source: ADGM). + READ MORE

icc rules thumbICC publishes enhanced User Guide to the eUCP: ICC Banking Commission recently released an enhanced User Guide to the eUCP – providing an invaluable resource to trade finance practitioners as demand for using ICC eRules continues to grow (source: essDOCS via ICC). + READ MORE

tradech reg complexity thumbTrade tech  Regulatory complexity is holding back digitisation: A review of recent World Economic Forum survey results, where respondents cited differing tech-related regulation across jurisdictions as the most common hindrance to adoption (source: Tech Monitor). + READ MORE

Unescap impact thumbAnalysis  Impact of UNESCAP agreement on cross-border paperless trade: UNESCAP Chief of Trade Policy & Facilitation explains what the APAC Framework Agreement on Facilitation of Cross-border Paperless Trade (CPTA) will mean for trade digitization (source: GTR). + READ MORE

depa thumbSingapore’s Digital Economy Partnership Agreement (DEPA): World’s first ‘digital-only’ trade agreement, Singapore’s DEPA with New Zealand & Chile, came into effect in January  aiming to establish digital trade rules & collaborations (source: ASEAN Briefing). + READ MORE

brexit day one thumbBrexit – Business Day One Review from essCert: essCert’s Brian Smith provides a post-mortem of the first business day under Brexit, including key resources on navigating non-preferential Certificate of Origin requirements between the EU & UK (source: essDOCS). + READ MORE

unctad thumb reportUNCTAD Report – 2020 Trade trends under the COVID-19 pandemic: UNCTAD’s recent report on trade statistics and trends for 2020 reveals 8% YoY decline in trade growth, with the sharpest drop occuring in Q2 2020 (20% drop cf. Q2 2019) (source: UNCTAD). + READ MORE

ACFTA thumbAfrica’s free trade area opens for business: Trading under the African Continental Free Trade Area (AfCFTA) commenced Jan-1, and while the road to implementation will be long, World Bank estimates it can potentially lift 30M Africans out of poverty (source: Africa Renewal). + READ MORE

wto thumbWTO members adopt roadmap to review implementation of the Trade Facilitation Agreement (TFA): supporting the first ever review of progress made in implementing the TFA, as the current rate of implementation stands at 69.7% (source: WTO). + READ MORE

cnbc container thumbAn ‘aggressive’ fight over containers is causing shipping costs to rocket by 300%: One of many stories covering the container shortage, a knock-on effect of the Covid-19 trade crisis which has driven up shipping costs and caused delays globally (source: CNBC)+ READ MORE

txf thumb 2021Reasons to be cheerful (in trade, treasury and risk in 2021): A refreshing bright spot from trade & treasury professionals, speaking with TXF on what positives can be drawn for 2021 in trade, treasury & risk, incl. digitization ‘getting the bump it needed’ (source: TXF). + READ MORE

tfg thumb reportICC/WTO/TFG Whitepaper – Accelerating Trade Digitalization to Support MSME Financing: Invaluable guidance, resources and advice for MSMEs in navigating the current digital trade landscape and how to adopt trade/finance tech solutions (source: TFG). + READ MORE

essDOCS News

METALS THUMB WEBINAR2Upcoming Webinar (8 April 2021) – Paperless Trade in Metals & Minerals: Catch our next webinar for insights into the latest paperless trade trends in metals & minerals – from leading corporates, banks, ports & port authorities. + READ MORE

smp kolkata thumbessDOCS signs MoU with SMP Kolkata to expand digital trade adoption at major Indian Port: MoU facilitates essDOCS’ partnership with SMP Kolkata (formerly Kolkata Port Trust), to accelerate & support paperless trade for Kolkata port users and stakeholders. + READ MORE

sino thumbSino Iron goes live with CargoDocs: The wholly-owned CITIC Pacific Mining company is now live with CargoDocs, having completed its first shipment using electronic Bills of Lading and ePresentation. + READ MORE

metals newsletter thumbCargoDocs Metals & Minerals Paperless Trade Newsletter: Check out our latest newsletter update on the CargoDocs Metals & Minerals ecosystem, feat. key facts & figures on paperless trade uptake for the period September to December 2020. + READ MORE

bdt thumb recordBarge Digital Transformation (BDT) Solution exceeds 100 eBoL transactions per day: NGFDS and US Agri Houses using the Barge Digital Transformation (BDT) Solution reach a key milestone of 100+ average eBoL transactions per day. + READ MORE

esscert newsleter thumb2020 essCert Newsletter: Read our first ever newsletter update on the essCert electronic Certificate Of Origin (eCO) ecosystem – featuring key facts & figures on eCO network and volume growth in 2020. + READ MORE

IOC THUMBIron Ore Company of Canada (IOC) goes live with CargoDocs executing first paperless trade transaction: Completing its first ever export shipment using electronic Bills of Lading, in a transaction involving Tata Steel Europe as importer. + READ MORE

CZ ThumbChina Zheshang Bank (CZBank) adopts CargoDocs: To support its corporate customers’ use of ePresentation under eUCP Letters of Credit & eDocumentary Collections, joining a growing number of Chinese banks adopting the essDOCS solution. + READ MORE

essDOCS in Numbers

Paperless Insights Q1 2021 Metrics


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