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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 ...

Exclusive: Scrapping paper documents could boost UK trade by £25bn whatsapp Digitising documents such as bills of lading for shipped goods could spark a major economic boost (Getty Images) Digitising business and removing tens of millions of paper documents would boost small British businesses’ overseas trade by £25bn over the next four years, according to new research. A report by the International Chamber of Commerce (ICC), seen by City A.M., argued that UK firms were trapped in the “bureaucracies of the 16th century” and must be brought up to date for the modern a...