Trade and Supply Chain Finance

  • Understanding the Economic Impact of Digitalisation on Digital Trade

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    Digitalisation has significantly changed how international trade is conducted, both via the use of digital platforms to facilitate the exchange of non-digital goods and services, as well as through the increase in digitally deliverable exports, including financial and professional services, and mobile apps and content. The impact of digitalisation of trade is of particular significance… Read more

  • Enabling Paperless Trade: a Long, Hard Slog

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    New Zealand Institute of Economic Researches (NZIER) has investigated what is needed to drive and develop a paperless trade environment for government and non-government supply chain participants. The gains from introducing paperless trade are significant to the point where they potentially match a high-quality trade agreement that delivers benefits year-on-year (NZIER 2021). The gains are… Read more

  • Digital Trade Governance: The UK’s Approach

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    Digital technologies have affected international trade relations and what is traded across borders, giving rise to digital trade. Digital trade has become an important part of international trade discussions, requiring specific policies and measures at different regulatory levels. Together these are referred to as digital trade governance. Good digital trade governance aims to enable cross-border… Read more

  • Recommended Actions for Promoting Digital Trade Integration in Kazakhstan

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    This report outlines a National Action Plan designed to enhance Kazakhstan’s digital trade integration within the Asia-Pacific region. Addressing gaps in digital trade policies will foster a more competitive and transparent environment for businesses and investors in Kazakhstan’s digital economy. Using ESCAP’s Regional Digital Trade Integration Index (RDTII) framework and database, this paper identifies priority… Read more

  • Trafigura Leads the Way with a Groundbreaking $2.885 Billion Syndicated Facility Leveraging Electronic Bills of Lading (eBL)

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    In a transformative move for global trade finance, Trafigura, in partnership with ING and 27 other lenders, has successfully executed a $2.885 billion borrowing base facility using electronic Bills of Lading (eBL) as collateral. This pioneering transaction demonstrates the growing influence of digitization in trade finance, supported by the UK’s Electronic Trade Documents Act (ETDA),… Read more

  • Data and Digital Trade

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    The global economy has experienced a rapid growth in digitally facilitated and delivered trade in goods and services. The Government has adopted a “consciously broad” definition of digital trade to reflect this trend. While we understand that trade is increasingly digital, such breadth may be an obstacle to identifying areas for improvement. We suggest that… Read more

  • Driving the Future of Trade Finance: How Digital Standards are Paving the Way for Paperless Trade

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    At Sibos 2024 in Beijing, industry leaders convened to discuss the accelerating digitalisation of global trade. A notable session featured Ben Arber, CEO of Complidata, in conversation with Pamela Mar, Managing Director of the Digital Standards Initiative (DSI) at the International Chamber of Commerce (ICC). Their discussion centered on the transition to paperless trade finance… Read more

  • Understanding the EU’s PSD3 Directive and PSR Regulation: Key Changes and Implications

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    The European Commission has introduced two significant legislative proposals: the third Payment Services Directive (PSD3) and the Payment Services Regulation (PSR). These initiatives aim to enhance the European payments market by building upon the foundations of PSD2, striving for greater harmonization and reducing national discrepancies. Objectives of PSD3 and PSR The primary goals of PSD3… Read more

  • UNCITRAL’s Framework for Negotiable Cargo Documents: Modernizing International Trade

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    The UNCITRAL Negotiable Cargo Documents framework is designed to modernize and harmonize the legal rules governing documents used in the transport of goods, particularly in international trade. These documents, commonly known as bills of lading, play a crucial role in shipping by serving as evidence of the contract of carriage, a receipt for the goods,… Read more

  • The Next Era of International Trade Transactions

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    Until the recent drive towards digitalisation and modernisation, the processes involved in an international end-to-end transaction could be long, cumbersome and expensive. From the shipping of goods to the payment of an invoice, the overall transaction would take place through a collection of individual, fragmented and often siloed procedures, from the issuance of paper trade… Read more