Digitalization Might Add a Whopping Us$9tn to G7 Trade

Trade across the G7 countries could add US$9tn by 2026, as per a report by the International Chamber of Commerce. The G7 countries, an intergovernmental organization consisting of Italy, Japan, the UK, the US, Germany, France, and Canada, agreed to a framework in May that champions the work of UNCITRAL and promotes the adoption of its MLETR. This gives electronic trade documents like the eBL (electronic bill of lading) the same legal standing as their physical paper-based counterparts.

 

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