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New paperless systems shown to significantly reduce processing times, with steps that often take days completed in an hour under pilot conditions
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UK exporters could see lower costs and faster access to global markets thanks to the innovative tech
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UK-Japan programme complements schemes launched with Germany and France
A pioneering scheme to speed up goods exports by going digital has demonstrated the potential to significantly cut processing times for key trade documents.
The results of the DBT-led pilot, carried out with companies trading between the UK and Japan, underscore the huge potential benefits of using digital technology to speed up global trade.
UK businesses taking part saw cost savings from eliminating paper-based shipping documents, reduced administrative burdens through faster, automated processes, and greater efficiency across their supply chains.
Under the pilot, documentary credit checks performed by banks – which commonly take up to ten days – were reduced to just one hour, paving the way for wider rollouts of the technology and complementing the UK’s digital trade corridor programme also under way with France and Germany.
Last month, the British Embassy Tokyo and the Department for Business and Trade brought together more than 50 Japanese industry leaders and representatives at an event marking the publication of reports, highlighting the benefits and opportunities of digital trade.
Minister for the Digital Economy Liz Lloyd said
This pilot shows how digital trade can deliver real, tangible benefits for UK exporters – helping businesses move goods faster and with greater confidence.
By working closely with partners in Japan, and complementing our promising digital trade corridors with France and Germany, the UK is demonstrating global leadership in making trade cheaper, faster and more secure through innovation.
Professor David Hughes, Coordinator of the Digital Trade Testbed at Teesside University, said
It’s exciting to see how quickly these foundational building blocks are coming together.
What matters now is turning successful demonstrations into repeatable, day-to-day processes so businesses of all sizes can scale, trade with confidence, and realise the benefits of digital trade across the UK–Japan corridor.
Trade digitalisation has significant potential for businesses, making trade cheaper, faster and more secure by replacing paper processes with secure, legally recognised, digital documentation.
The UK continues to press on as a global leader in the sector, with global digital trade firm LogChain having relocated its headquarters from Singapore to Liverpool earlier this year.
You can read the full reports below
Digital trade that delivers scaling the UK–Japan corridor – ICC United Kingdom
Published Reports Intralink