Digital Trade
ICC Digital Standards Initiative launches complete framework for supply chain digitalisation
The Digital Standards Initiative (DSI) of the International Chamber of Commerce (ICC) has launched a complete framework for end-to-end supply chain digitalisation, based on its 18-month analysis covering all 36 key trade documents.
The report, together with its interactive Key Trade Data Glossary, marks a breakthrough in digital trade bringing together all key trade documents in a single integrated version, with data alignment that presents a clear path to interoperability and secure data sharing.
The Key Trade Documents and Data Elements (KTDDE) project, chaired by Robert Beideman, Chief Product Officer at GS1, provides a detailed analysis of 36 key trade documents set forth in the World Trade Organization (WTO)- United Nations Commission on International Trade Law (UNCITRAL)- United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Cross-border Paperless Trade Toolkit and offers an invaluable guide to digitalising any process, whether business-to-business (B2B) or business-to-government (B2G) across any global supply chain and covering all sectors.
This report exemplifies the strength of collective expertise and vision. This signals an end to the era of fragmentation in global trade with a unified framework that brings together business and industry, standards organisations, intergovernmental bodies, and regulators.
The report offers a practical roadmap for entities at different stages of digital adoption. The future is promising: 21 of 36 documents already have standardised electronic versions, and some show great progress towards their adoption. Meanwhile, our analysis of the 15 other documents points out the opportunity for further alignment in the interests of all stakeholders in the trade ecosystem.
The KTDDE project is a major stride in moving towards interoperability in cross-border trade as it incorporates the work of the key standards bodies. It lays the foundations for digital trust at scale through secure, verified data sharing among supply chain actors.
The WCO is proud to have contributed to the Key Trade Documents and Data Elements (KTDDE) work. It sheds light on the opportunity to achieve greater harmonisation in global trade.
Alignment of data and standards is a prerequisite to a more harmonised, connected digital trade ecosystem. This work– which really is the work of over 50 organisations active in trade standards – is a foundational step. We now need to see widespread adoption as a way to simplify and speed all trade processes, and that’s going to be a target moving forward
The full KTDDE Final Report can be downloaded here.
For more details about the ICC Digital Standards Initiative and the Key Trade Data Glossary, please visit www.dsi.iccwbo.org.
