Traders urged to prepare for end of 'wet signatures' as international adoption of digital documents looms

Global Trade Review
Wednesday, May 5, 2021
Exporters have ‘12-18 months’ to prepare as G7 paves way for trade digitisation. A new commitment made by G7 digital and technology ministers to adopt electronic transferable records in international trade transactions has been hailed as a “momentous step forward” for trade digitisation, and businesses are being called upon to get ready for digital trade now – or risk being left behind. At a meeting held last week, the intergovernmental organisation, made up of Canada, France, Germany, Italy, Japan, the UK and the US, agreed a framework that will champion the work of the United Nations Commission on International Trade Law (UNCITRAL) and promote the adoption of its Model Law on Electronic Transferable Records (MLETR).
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