Signing of a Memorandum of Understanding to standardize the digitalization of international trade

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Digital Container Shipping Association (DCSA), a neutral non-profit group established to continue the digitization of container shipping technology standards, in conjunction with its nine member carriers, today announced the formation of the Future International Trade (FIT ) Alliance with the signing of a Memorandum of Understanding (MOU) between DCSA, BIMCO, FIATA, the International Chamber of Commerce (ICC) and SWIFT in which the organizations commit to collaborate to standardize the digitization of international trade.

Through this initiative, the FIT Alliance will work together to raise awareness of the importance of common, interoperable data standards and common legislative requirements across international jurisdictions and platforms. The objective is to facilitate the acceptance and adoption of an eBL by regulators, banks and insurers and to unify communication between these organizations and customers, physical and contract carriers, and all other parties. stakeholders.

“Digitizing documentation for container shipments will bring added value to international suppliers who rely on shipping across all industries,” said David Loosley, BIMCO’s Corporate Secretary and CEO. “Aligning these standards with the electronic bill of lading standard for the dry and liquid bulk sectors, which we are developing with the help of DCSA, will help accelerate the digitization of trade globally.”

“Interoperability between all players in the trade and transport industry is the essential foundation to enable smooth data exchange and to streamline the end-to-end shipping process for our members,” said Dr Stéphane Graber, Director General of FIATA. “FIATA, as the owner of the only negotiable multimodal transport document, endorsed by UNCTAD and ICC, believes that an industry-wide effort to establish open source, interoperable and industry-independent standards technology is essential to make the digitalization of international trade a reality. . FIATA is committed to making it easier for freight forwarders to adopt digital processes. We have taken the lead in developing the electronic FIATA Bill of Lading (eFBL) standard, which promote acceptance of electronic documents by all stakeholders involved in a bill of lading (B/L) transaction By simplifying their business, our members can focus on creating truly differentiated offerings for their customers on future-proof digital foundations . »

“ICC represents 45 million businesses in more than 100 countries, and our mission is to make business work for everyone, every day, everywhere,” said John WH Denton AO, Secretary General of ICC. “To live up to this means finding ways to make international trade much less complex than it is now. Through the FIT Alliance, we are working with key industry players to create and accelerate the adoption of digital standards for bills of lading that will make international shipping much simpler, more secure and transparent. This will drive a sea change in business productivity and business models, the two critical ingredients to help businesses build back better and unlock ecosystem-level benefits that have never been achieved before.

For more information:
Mette Kronholm Fraende
BIMCO
Phone. : (+45) 4436 6811
Email: [email protected]
Web: bimco.org

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