Cooperation to accelerate digitalization of cross-border trade

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) recently organized the first Paperless Trade Week to promote deeper cooperation between public and private sector stakeholders to digitize cross-border trade.

The Framework Agreement on Facilitating Cross-Border Paperless Trade in Asia and the Pacific (CPTA) brings together more than 30 member countries and 10 international development partners. Central to Paperless Trade Week (ending 7 June) is the CPTA’s acceleration of digital trade measures. In particular, the agreement supports countries in moving towards paperless, and ultimately paperless, trade by providing a dedicated and comprehensive intergovernmental platform.

ESCAP workshop on paperless trade. Photo: ESCAP

The United Nations’ latest global survey on digital and sustainable trade facilitation highlights that cross-border paperless trade measures remain one of the least implemented initiatives at the global and regional levels. The persistence of this challenge may be due to the inability of many countries to implement such measures effectively.

According to the Joint Asia-Pacific Trade Facilitation Report 2024, issued by the Asian Development Bank (ADB) and ESCAP earlier this year, adopting digital trade facilitation measures could reduce trade costs by 11% across the region. However, countries in the region continue to face challenges in paperless cross-border trade, with an average implementation rate of just 42%, suggesting that much work remains to be done.

To facilitate successful implementation of cross-border paperless trade, ESCAP emphasizes the importance of consistent and sustained cooperation in developing the necessary solutions. The Framework Agreement serves as a neutral and dedicated regional institutional framework for developing and testing solutions, further building on national, bilateral and sub-regional initiatives to achieve the goal of digitalizing trade. ESCAP also organized a series of capacity-building workshops and interactive events on the sidelines of the Paperless Trade Week. These workshops, through discussion and interaction, supported public-private partnerships in promoting the digitalization of trade procedures.

“From just five original signatories to the Framework Agreement on the Facilitation of Paperless Cross-Border Trade in Asia and the Pacific, we are now proud to have 13 countries on board – a testament to the growing momentum behind the implementation of this agreement,” said Ms. Armida Salsiah Alisjahbana, Executive Secretary of ESCAP. In her forecast of further expansion of the framework, Ms. Alisjahbana highlighted three key elements: the sustained commitment of government leaders to build the necessary foundation for both domestic and cross-border paperless trade; the critical nature of partnerships in implementing the framework; and the active promotion of the benefits of the agreement within the members’ respective spheres of influence.

HUY QUOC

Source: https://www.sggp.org.vn/hop-tac-day-nhanh-so-hoa-thuong-mai-xuyen-bien-gioi-post745256.html