-
New paperless systems shown to significantly
reduce processing times, with steps that often
take days completed in an
hour under pilot conditions
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UK exporters could see lower costs and faster
access to global markets thanks to the innovative
tech
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UK-Japan programme complements schemes launched with Germany and
France
A pioneering scheme to speed
up goods exports by going
digital has demonstrated the potential to
significantly cut processing times for key
trade documents.
The results of the DBT-led pilot, carried
out with companies trading between
the UK and Japan, underscore the huge
potential benefits of
using digital technology to speed up global
trade.
UK businesses taking part saw cost savings
from eliminating paper-based shipping
documents, reduced administrative burdens through faster,
automated processes, and greater efficiency
across their supply chains.
Under the pilot, documentary credit checks
performed by banks - which commonly
take up to ten days - were reduced
to just one hour, paving the way for wider rollouts of
the technology and complementing the UK's digital trade
corridor programme also under way with France and
Germany.
Last month, the British Embassy Tokyo and the Department for
Business and Trade brought together more
than 50 Japanese industry
leaders and representatives at an event marking
the publication of reports, highlighting the
benefits and opportunities of digital trade.
Minister for the Digital Economy said:
This pilot shows how digital trade can deliver real, tangible
benefits for UK exporters - helping businesses
move goods faster and with greater confidence.
By working closely with partners in Japan,
and complementing our promising digital trade corridors
with France and Germany, the UK is demonstrating global
leadership in making trade cheaper, faster and more secure
through innovation.
Professor , Coordinator of the Digital
Trade Testbed at Teesside University, said:
It's exciting to see how quickly these foundational building
blocks are coming together.
What matters now is turning successful demonstrations into
repeatable, day-to-day processes so businesses of all sizes
can scale, trade with confidence, and realise the benefits of
digital trade across the UK–Japan corridor.
Trade digitalisation has significant potential for businesses,
making trade cheaper, faster and more secure by
replacing paper processes with secure, legally recognised,
digital documentation.
The UK continues to press on as a global leader
in the sector, with global digital trade firm LogChain
having relocated its
headquarters from Singapore to Liverpool earlier
this year.
You can read the full
reports below:
Digital
trade that delivers: scaling the UK–Japan corridor - ICC United
Kingdom
Published
Reports: Intralink
