In our latest quarterly issue: Predictions for the state of digital trade in 2022 & beyond, trade headwinds amid ongoing supply chain disruptions, G7 countries ramp up legal acceptability of eDocs, improving ESG performance through trade digitization + much more! + SUBSCRIBE

Industry News & Views

Digitalisation could add US$9tn to G7 trade by 2026, says ICC: Highlights from the ICC's latest report on the potential impact of digital trade efforts such as the recent G7 Framework for Collaboration on eTransferable Records (source: GTR). + READ MORE

Quantifying the environmental benefits from paperless trade facilitation: UN report examines quantifying CO2 emissions savings through paperless trade facilitation, which it views can play a major impact in improving ESG performance (source: UNCTAD). + READ MORE

Global Trade Finance Gap Widened to $1.7 Trillion: ADB’s latest Trade Finance Gap study reveals the gap grew to an all-time high of $1.7 trillion in 2020, a 15% increase from two years earlier, with SMEs hardest hit as trade finance dried up due to Covid (source: ADB). + READ MORE

G7 Trade Ministers' Digital Trade Principles: The UK Government released a list of The Digital Trade Principles agreed by the G7 countries at the G7 Trade Talks on 22 October 2021, to which the countries have committed to adhering (source: Gov.uk). + READ MORE

What is the URDTT and why is it so Important?: Analysis of the ICC’s recently-released Uniform Rules for Digital Trade Transactions (URDTT), the first ever rules for entirely digital transactions, now extending to corporates and nonbank financiers (source: TFG). + READ MORE

HSBC & Arcelor Mittal Nippon Steel India successfully execute blockchain enabled paperless trade transaction: Coverage of AM/NS India's recent integrated paperless LC & eDocs transaction, enabled by essDOCS alongside Contour (source: Orissadiary.com). + READ MORE

Unblocking the paper-jam in container shipping: Overcoming ongoing paper issues in container shipping, arguing that adopting APIs combined with digital trade standards will set the pathway for streamlining doc / data flows to unblock jams (source: Container News). + READ MORE

Economists expect shipping problems to linger well into 2022: A selection of views on which shipping problems will persist, such as backups at big US ports, while acknowledging that companies are finding new ways to keep products moving (source: CNBC). + READ MORE

ICC proposes first set of global rules on sustainable trade finance: During the recent COP26 climate talks, the ICC proposed a new set of rules to define sustainability in the trade finance arena, a market worth some $5 trillion a year (source: Reuters). + READ MORE

A toy’s journey through the supply chain crisis: from Chinese factory to UK child’s stocking: An interactive article detailing the supply chain crisis through the story of a toy made in China and exported from Shanghai to the UK (source: The Guardian). + READ MORE

APHIS will no longer accept unoriginal electronic phytosanitary certificates and forms after Dec. 31, 2021: USDA APHIS announced the end of temporary acceptance of copy Phytos, and a reversion to either paper original or ePhytos (source: The Packer). + READ MORE

Philippines shifts to live electronic exchange of Customs Declaration Document with ASEAN: The country is now exchanging the ASEAN Customs Declaration Document (ACDD) using the ASEAN Single Window (ASW) platform (source: PTV News). + READ MORE

UK G7 Presidency: Roadmap to reform for eTransferable records: As part of efforts to accelerate digital trade, the UK G7 Presidency released its Roadmap for reforming eTransferable records, such as enacting the UNCITRAL MLETR & more (source: Gov.uk). + READ MORE

Ministerial declaration affirms concerted regional action to speed up transition towards sustainable transport & logistics systems: UNESCAP recently adopted a transport agenda to enable greener, smarter & more resilient ways to move goods (source: UNESCAP). + READ MORE

ICC targets digital trade legal reform in 100 countries with industry-wide board: Having recently launched a Legal Reform Advisory Board (LRAB) to support the efforts of the ICC Digital Standards Initiative (DSI) and accelerate digital trade (source: GTR). + READ MORE

World Chambers Federation (WCF) announces new members of CO Accreditation Chain: New members added to the International Certificate of Origin (CO) Accreditation Chain include Chambers of Commerce from Brazil, Austria and Italy (source: essCert). + READ MORE

2021 – A year in review with Trade Finance Global: Key themes shaping trade finance in 2021, including volatile global trade volumes, the rise of FTAs, digital LCs, the collapse of Greensill Capital, legal reform and adoption of digital records & more (source: TFG). + READ MORE

essDOCS News

Webinar Recording – Paperless Trade in Metals & Minerals: Roadmapping the Journey to Digital Trade & Trade Finance: Featuring insights from a panel of leading industry experts hailing from BHP, Bank of China and Shanghai Ouyeel (EFFITRADE). + READ MORE

Takeaways from the 12th World Chambers Congress – Generation Next: Chambers 4.0: essDOCS Co-CEO Alex Goulandris' takeaways from the recent WCC in Dubai, highlighting the digital transition of Chambers of Commerce as they enter the Chambers 4.0 era. + READ MORE

essDOCS in Numbers