Global trade is at the cusp of a digital revolution. Entering force in September 2023, the UK’s Electronic Trade Documents Act gave digital versions of key trade documents, such as Bills of Lading, the same legal footing as paper equivalents for the first time.
This ground-breaking regulation, which is already influencing trade rules globally, is paving the way for the greater digitalisation of supply chain and cross border processes. Research from the International Chamber of Commerce found that innovations in this field this could result in a “15% increase in profitability and an 18% reduction in shipping costs”.
In a free webinar hosted by the Chartered Institute of Export & International Trade, in partnership with Boex, we gave an overview of the scale of opportunity in trade digitalisation, while giving examples of innovative solutions that are already enabling more efficient and secure trade.
In this session, Sean Copeland, Co-Founder and Visionary behind Boex walks us through the fascinating history of the Bill of Exchange—one of the oldest financial instruments in global trade—introduces us to the functionality of his platform and shares the motivations behind the founding of Boex and its foundation. From centuries-old legal frameworks to today's digital transformation, this talk connects the dots between tradition, innovation and improving the world.
Ilona Kawka, the lead of the Chartered Institute’s Imports Advisory Practice, also gave an introduction to the ‘digital trade corridor’ solution that the Chartered Institute has been involved in developing. Her presentation included an update of Cabinet Office-led trials of this solution for goods movements between the UK and Poland, and UK and Kenya.
To access the slides from the webinar, please click here.
You can also get further advice about the digitalisation of your supply chains from Kawka via the Imports Advisory Practice, which you can access here.
