New\u00a0paperless\u00a0systems\u00a0shown to significantly reduce\u00a0processing times, with\u00a0steps\u00a0that often take days\u00a0completed in\u00a0an hour\u00a0under\u00a0pilot conditions\u00a0<\/p>\n
UK\u00a0exporters\u00a0could see lower costs and\u00a0faster access to global\u00a0markets thanks\u00a0to the innovative tech\u00a0<\/p>\n
UK-Japan\u00a0programme\u00a0complements\u00a0schemes\u00a0launched\u00a0with\u00a0Germany\u00a0and France\u00a0<\/p>\n
A\u00a0pioneering\u00a0scheme to\u00a0speed up\u00a0goods\u00a0exports\u00a0by\u00a0going digital\u00a0has\u00a0demonstrated\u00a0the potential to significantly\u00a0cut\u00a0processing\u00a0times\u00a0for key trade documents.\u00a0\u00a0<\/p>\n
The\u00a0results\u00a0of the\u00a0DBT-led pilot, carried out\u00a0with\u00a0companies\u00a0trading between the\u00a0UK\u00a0and Japan,\u00a0underscore\u00a0the\u00a0huge potential\u00a0benefits\u00a0of using\u00a0digital\u00a0technology\u00a0to\u00a0speed up global trade.\u00a0\u00a0<\/p>\n
UK\u00a0businesses\u00a0taking part\u00a0saw\u00a0cost savings from\u00a0eliminating\u00a0paper-based shipping documents,\u00a0reduced administrative burdens through faster, automated\u00a0processes, and greater efficiency across\u00a0their\u00a0supply chains.\u00a0\u00a0<\/p>\n
Under\u00a0the\u00a0pilot,\u00a0documentary\u00a0credit checks performed by banks\u00a0–\u00a0which commonly take\u00a0up\u00a0to ten\u00a0days\u00a0–\u00a0were\u00a0reduced to just\u00a0one hour,\u00a0paving the way for wider rollouts of the technology\u00a0and\u00a0complementing the UK\u2019s digital trade corridor\u00a0programme also under\u00a0way with France and Germany.\u00a0<\/p>\n
Last month, the British Embassy Tokyo and the Department for Business and Trade brought together\u00a0more than\u00a050\u00a0Japanese industry leaders\u00a0and\u00a0representatives\u00a0at an event marking the\u00a0publication\u00a0of\u00a0reports,\u00a0\u00a0highlighting\u00a0the benefits\u00a0and opportunities\u00a0of digital\u00a0trade.\u00a0<\/p>\n
Minister for the Digital Economy Liz Lloyd said:\u00a0<\/p>\n
This pilot shows how digital trade can deliver real, tangible benefits for\u00a0UK\u00a0exporters\u00a0– helping businesses move goods faster and with greater confidence.\u00a0<\/p>\n
By working closely with partners in\u00a0Japan, and\u00a0complementing our\u00a0promising digital trade corridors with France and Germany, the\u00a0UK\u00a0is demonstrating global leadership in making trade cheaper, faster and more secure through innovation.<\/p>\n
Professor David Hughes, Coordinator of the Digital Trade Testbed at Teesside University, said:\u00a0\u00a0<\/p>\n
It\u2019s\u00a0exciting to see how quickly these foundational building blocks are coming together.\u00a0\u00a0<\/p>\n
What matters now is turning successful demonstrations into repeatable, day-to-day\u00a0processes so businesses of all sizes can scale, trade with confidence, and realise the benefits of digital trade across the UK\u2013Japan corridor.<\/p>\n
Trade digitalisation has significant potential for businesses, making trade cheaper,\u00a0faster\u00a0and more secure by replacing paper\u00a0processes with secure, legally recognised, digital documentation.\u00a0<\/p>\n
The\u00a0UK\u00a0continues to press on as a global leader in\u00a0the sector, with global digital trade firm\u00a0LogChain having\u00a0relocated\u00a0its headquarters<\/a>\u00a0from\u00a0Singapore to Liverpool earlier this year.<\/p>\n You can read the full reports\u00a0below:\u00a0\u00a0<\/p>\n