On March 15, the International Chamber of Commerce (ICC) and the World Trade Organization (WTO) launched the first set of tools to help the public and private sectors adopt regulatory standards and promote the digitalization of business processes.
One of the main barriers to the adoption of paperless processes is the lack of awareness on the part of companies and state agencies, international organizations noted based on the ICC 2021. So much so that, in a recent joint research, the entities concluded that less than 1% of commercial documents are fully digitalized worldwide. And they highlighted that a transaction involves the exchange of 240 hard copies of documents.
In this context, the tool aims to provide a comprehensive overview of foreign trade regulations that can be used to reduce paper use and facilitate data exchange. At the same time, it will help identify potential gaps and promote interoperability.
The initiative thus identifies approximately 100 standards available globally for use by supply chain stakeholders that share a common universal language. In doing so, the community will advance digital cross-border trade in a framework of agility, security and trust, the WTO and ICC maintain.
The rules include ISO standards for standardizing country names, currency conversion, language translation, and more. It also includes the World Customs Organization's Harmonized System for use in customs and trade procedures.Set of standards for paperless cross-border trade)
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
