Digitalizing Trade in Asia Needs Legislative Reform
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This report is the first step in addressing legislative gaps that impede the digitalization of trade, as ADB works with governments to identify solutions.
Digitalization makes global trade and supply chains more robust and supports economic growth. Yet, legislative gaps impede trade digitalization, and the adoption of electronic transferable records has been slow in Asia and the rest of the world. The report provides a snapshot of developments and opportunities for legal reform to enable the digitalization of trade in member states of the Association of Southeast Asian Nations (ASEAN), the Central Asia Regional Economic Cooperation (CAREC), and the South Asia Subregional Economic Cooperation (SASEC). It highlights the need to adopt international standards, citing as examples the experiences of Bahrain, Belize, Kiribati, Singapore, and Abu Dhabi General Market, and establish national policy frameworks for paperless trade.
- Trade Resilience Gaps and COVID-19
- Snapshot of the Model Law on Electronic Transferable Records
- Progress to Date in Asia
- Call to Action