In our latest quarterly issue: Legislative reform towards legal acceptability of eB/Ls and other title docs tops the paperless trade agenda, eDoc standards continue to take shape as new initiatives emerge, key digital trade & trade finance milestones across the globe + much more! + SUBSCRIBE

Industry News & Views

Exporters have 12-18 months to prepare as G7 paves way for trade digitisation: Nations sign the G7 Digital & Technology Ministerial Declaration, incl. a collaboration framework on eTransferable Records based on UNICTRAL MLETR (source: GTR). + READ MORE

Economic case to reform UK law & align to UNCITRAL Model Law on Electronic Transferable Records (MLETR): Report finds that digitizing title docs such as B/Ls will deliver £250B savings to UK economy, provided countries align to MLETR (source: ICC UK). + READ MORE

UNCTAD Global Trade Update: UNCTAD forecasts global trade to continue growing strong in the 2nd half of 2021, with latest estimates showing an increase of 16% from the lowest point of 2020 (19% for goods and 8% for services) (source: UNCTAD). + READ MORE

eTIR framework enters into force across globe in huge boost to trade facilitation: eTIR Carnet legal framework entered into force in May, opening eTIR to 77 countries & providing a boost to facilitating cross-border truck movements (source: IRU). + READ MORE

DCSA releases interface standards for bill of lading with API definitions: To enable shippers to process a standardized eB/L from carriers that have implemented the Digital Container Shipping Association (DCSA) standards (source: DCSA). + READ MORE

BIMCO sets sights on global electronic Bill of Lading standard: BIMCO announces joint work on an eB/L standard with the ICC, and plans to develop its standard with the assistance of the DCSA, who published their own standards for the liner industry (source: BIMCO). + READ MORE

Key developments in digital agri trade: essDOCS Co-CEO, Alexander Goulandris, shares his insights on the latest developments in digital agri trade, including key facts & figures, recent digital agribusiness initiatives plus more (source: essDOCS via Gaftaworld). + READ MORE

South Korea implements new trade tool with digital ePhyto plant health certificates: Global uptake of the ePhyto continues, as South Korea starts exchanging ePhyto Certificates across plant & plant product commodity flows with the USA (source: IPCC). + READ MORE

UK to Begin Process to Join Trans-Pacific Trade Partnership: Good news for UK trade as the nation starts the process of accession to the Trans Pacific Trade Partnership, a key step for cooperating with far-east markets such as Japan (source: Bloomberg). + READ MORE

Africa’s trade finance future: Afrexim Bank’s survey on the impact of Covid-19 on African trade finance highlights the trade finance gap in Africa, setting forth digitization as a key means of addressing the gap and boosting African trade (source: ICLG). + READ MORE

Electronic Bills of Lading – is this time different?: Maritime law experts from HFW weigh in on recent developments in national laws granting eB/Ls the same legal status as paper, including Singapore’s recent adoption of MLETR plus others (source: HFW). + READ MORE

Digitizing Trade in Asia Needs Legislative Reform: Asian Development Bank (ADB) review of digital trade in ASEAN reveals that several jurisdictions are well-positioned to take the next reform step by adopting UNCITRAL MLETR (source: ADB). + READ MORE

Marrying mining transactions with ESG metrics for future-ready supply chains: MineHub CEO, A. S. Busmann, and White & Case partner, Rebecca Campbell, on ESG reporting and how digitization can ensure adaptability for mining supply chains (source: Mining.com). + READ MORE

Drop the “e” – let’s think about the future of digitally enabled trade: ICC Sec. General John W.H. Denton AO's speech at a recent WCO Conference emphasizes there can be no recovery or resilience for supply chains without digitally-enabled trade (source: ICC). + READ MORE

Video – Greensill is gone but bad habits in trade finance remain: Bankers, corporates & tech firms (incl. essDOCS) explore lessons learned from Greensill Capital's implosion plus opportunities emerging from digital trade finance (source: Future of Finance via Youtube). + READ MORE

Upcoming Webinar – Next gen trade finance digitization: Preparing for trade eDocs: Join essDOCS, Surecomp & Trade Finance Global (TFG) on Wed 14 July for a webinar on recent developments in eDocs and next gen trade finance digitization (source: Surecomp). + READ MORE

essDOCS News

Chamber of Commerce and Industry of Slovenia (CCIS) nears 80% Electronic Certification with essCert: Slovenian Chamber nears 80% electronic certification with essCert, as it moves closer to its target of 100% eCertification within 2021. + READ MORE

IOC & HSBC use CargoDocs to complete first eDocs transaction under Letter of Credit for Canadian exports: Iron Ore Company of Canada (IOC) & HSBC achieve major paperless trade milestone, completing first ever eDocs transaction under LC for Canadian exports. + READ MORE

First use of CargoDocs eB/Ls for Intra-Middle East trade: Vale & Direct Iron Reduction Co. (an Al Ittefaq Steel Products Co. entity) execute first ever intra-Middle East transaction involving CargoDocs eB/Ls, for an iron ore shipment ex-Oman to Saudi Arabia. + READ MORE

essDOCS enables first integrated paperless LC & eDocs transaction in Steel Industry, in first use of CargoDocs for Indian exports: Transaction involved the sale of steel in containers by Tata Steel in India to UTP Pipe in UAE, supported by HSBC India & HSBC UAE. + READ MORE

Assore goes live with CargoDocs: Leading South African mining company, Assore, recently went live with CargoDocs, executing its first ever export shipment using electronic Bills of Lading and involving iron ore lumps export to the Netherlands. + READ MORE

essDOCS updates CargoDocs User Agreement (DSUA 2021.1) to incorporate Singapore law recognizing electronic Bills of Lading: The crucial update to the Users Agreement was approved by the International Group of P&I Clubs in May and came into effect on 1 July 2021. + READ MORE

essDOCS in Numbers