trade digitalisation
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You are likely reading this on a digital device. In the last week you’ve probably done your banking, communicated, and maybe even booked a flight, an Uber or a holiday — all digitally. You may even find it hard to remember when you last needed a paper document. Yet in international shipping, almost 96% of… Read more
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Speeding up the Digitalisation of Trade Finance
International trade between professionals is built on a complex documentary chain, yet it is far less digitalised than e-commerce. The latter enables consumers to order or exchange goods and services, cancel orders, have items delivered and pay without a single paper-based document. Less than 0.1% of the four billion new documents produced each year in… Read more
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Using electronic documents and transactions can speed up and increase trade. Electronic messages can eliminate the need to enter data into a computer manually at each supply chain checkpoint and can provide opportunities for the potential reuse of data. There are various ways to digitize trade documents and transactions. One way is simply to take… Read more
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Meeting of Ministers of SPECA Participating States
We, the Ministers/the Head of delegations of SPECA participating States – Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, gathered in Geneva on April 17 of 2023 on the margins of the 70th Session of the United Nations Economic Commission for Europe (UNECE) for a high-level dialogue with heads of the United Nations regional commissions, Permanent… Read more
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Verifiable Trust: A Foundational Digital Layer Underpinning the Physical, Financial, and Information Supply Chain
Digital trade, or the application of digital technologies to trade and supply chain processes, is an opportunity to drive efficiency, speed, and resilience for companies, industries and countries that rely on trade for growth. The pace of technological advancement, and the falling cost of computing power and storage, now make the benefits of digitally-enabled trade… Read more
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The international supply chain is growing in complexity at the same time as nation states seek to improve their border compliance for imports and facilitate access to export markets for their domestic producers. The global value chain is highly dependent on smooth cross-border supply flows (tangible, intangible and data). In an uncertain world that is… Read more
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This study seeks to provide the European Central Bank (ECB) with a thorough understanding of the current payment habits of citizens of euro area countries and specifically their attitudes towards digital payment methods. In addition, it aims to explore the user perspective on new digital payment methods and potential key features which could drive the… Read more
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In the era of digital transformation, supplier management and procurement came late. But over the past two years, companies have learned how vulnerable global supply chains are to disruption, making the digitisation of supplier management and procurement processes more important again. While cost reduction remains a priority, procurement needs to be more flexible and its… Read more
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International trade is associated with positive impacts on growth, and acts as a particularly important channel of positive spill-overs for SMEs, including in the area of managerial skills, technology and innovation. Access to trade finance can facilitate SME engagement in international trade by addressing two major challenges. First, both exporters and importers are exposed to… Read more
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Distributed ledger technology (DLT)1 in trade is usually used for two primary purposes: 1) track-and-trace, to enhance transparency on how goods are being processed and 2) the digitalization of trade processes. Track-and-trace itself has three main purposes. First, it can be used to increase transparency for customers and build trust. This is done by providing… Read more