Reflections and videos from the International Trade and Prosperity Week

Published: October 25, 2022
Filed under:

As proud sponsor of the ITPW, Enigio would like to give thanks to ICC UK for a very well performed and successful digital conference last week. Great content and attendance!   

Some key take aways and reflections from Enigios CEO Patrik Zekkar: 

  • Legislation (MLETR) is moving forward, it is no longer  about “if” but rather “when” the prerequisite for global digital trade will be in place. It may come unexpected, as part of the trade ecosystem are unaware and unprepared.
  • The rational for digitalising trade are undisputable strong, yet uptake remains slow and widespread adoption is now key. We cannot afford to leave anyone behind.
  • The major challenge to widespread adoption of eBLs is that multiple and different stakeholders and parties have to embrace the digital change.
  • A widespread technology adoption in a fragmented, complex and multiple party domain like global trade will only happen through transition, rather than trying to make a leap.
  • Today’s paper processes are well established, known and trusted by all parties in the supply chain. MLETR are equally built around the paper equivalent.
  • Transition need to happen through technological solutions that are able to replicate the current paper process in digital form, which means digitising the physical paper rather than to eliminate paper. Moving from physical paper process to sole data matching, and disrupting the complete trade document process, is a too major leap to achieve adoption.

And some more from Ulf Eggefors, Enigio’s Head of Transport & Logistics:

  • The Roundtable discussion about the road map for digital trade included a selection of delegates with various backgrounds, which created good input from different angles.
  • It is obvious that the digitalisation of trade documents is actually happening ‘as we speak’, after several  years of talking about electronic bill of lading without action.
  • It was also clear that collaboration will be needed in order to succeed with this infrastructual change. That market is enormous, and change will not happen, if we work in silos.
  • The key will be to go from conferences and presentations to adaption together with the participants in the trade chain. In order to get buy-in and understanding from the trade community, we will need to adjust our communications.

In case you missed the conference or would like to watch the sessions again they are availble on Youtube. Make sure you watch especially: Webinar 4 Modernising  of world trade

(1038) ICC United Kingdom – YouTube