Project Notice
|
| PNR |
60568 |
| Project Name |
A path to paperless trade: Analysing the legal gaps and economic benefit of adopting or maintaining a legal framework that takes into account the UNCITRAL Model Law on Electronic Transferable Records |
| Project Detail |
Project Title
A path to paperless trade: Analysing the legal gaps and economic benefit of adopting or maintaining a legal framework that takes into account the UNCITRAL Model Law on Electronic Transferable Records
Project Status
Project in Implementation
Fund Account
Self-Funded
Project Year
2024
Sponsoring Forum
Committee on Trade and Investment (CTI)
Topics
Trade Facilitation
Moving collectively to paperless trade represents a substantial economic opportunity for the APEC region. Differences in the legal recognition of electronic documents among APEC economies are among the biggest barriers to wider use of electronic trade documentation. The UNCITRAL Model Law on Electronic Transferable Records (‘MLETR’) is a key enabler for paperless trade because it provides a basis for the recognition of the electronic equivalents of paper-based transferable documents. Adoption or maintenance of a legal framework that takes into account the model law by APEC economies would pave the way for coordinated use of electronic transferable documents among economies. This will help create legal certainty and commercial predictability for business. This project will scope and identify the legal gaps between existing domestic regulations among APEC economies and the requisite legal foundation to adopt or maintain a legal framework that takes into account the UNCITRAL MLETR, and what options or live use cases the APEC economies can reference to meet the high standards of the model law. Secondly, the project will also conduct an economic analysis of adopting the model law, which will examine the benefits for APEC economies. The findings of this project will be used to inform a workshop during Peru’s host year, which will discuss next steps for greater cooperation in APEC in moving towards paperless trade. |
| Funded By |
Asia Pacific Economic Cooperation (APEC) |
| Sector |
Advertising & Media |
| Country |
Australia , Australia and New Zealand |
| Project Value |
AUD 230,000
|
