The International Chamber of Commerce (ICC) today announced the publication of a significant report that aims to enhance the digitalization of international supply chains. The Key Trade Documents and Data Elements (KTDDE) report, created by the ICC’s Digital Standards Initiative (DSI), leverages the expertise of UN/CEFACT experts and the existing framework of the United Nations Trade Data Element Directory (UNTDED). The report analyzes 36 essential trade documents such as purchase orders, TIR carnets, commercial invoices, road consignment notes, and food product certificates. This analysis is expected to facilitate the transition from traditional documents to a streamlined digital data exchange in both business-to-business (B2B) and business-to-government (B2G) interactions across various transportation modes. Pamela Mar, DSI Managing Director, highlighted the crucial role of the UN/CEFACT team in the project. She noted, “The expertise from the UN/CEFACT team has been invaluable, enabling us to align with global standards and pave the way for a more integrated digital trade ecosystem.
We are eager to continue our collaboration with UN/CEFACT to promote the widespread adoption of these standards, which aim to reduce trade barriers significantly.” Sue Probert, Chair of UN/CEFACT, emphasized the broader impacts of the project. “This initiative supports not only our digitalization goals but also the ongoing efforts with UNECE and ISO to update and enhance the UNTDED/ISO7372 data elements list, ensuring it meets current global trade needs,” she said. Alongside the KTDDE report, an interactive tool called the Key Trade Data Glossary has been developed to serve educational purposes and facilitate practical applications in supply chain digitalization. This glossary unifies all key trade documents into a single framework, aiming to ensure data interoperability and secure information sharing. This global collaborative effort marks a pivotal step towards the new era of digital trade finance, encouraging stakeholders from both public and private sectors to adopt the digital trade standards powered by UN/CEFACT and ICC DSI MLETR.
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