The Centre for Digital Trade and Innovation (C4DTI) is an ICC United Kingdom-led, global initiative based in the Tees Valley. C4DTI is a public, private partnership led by industry and supported by government. Its core mission is to accelerate the digitalisation of UK trade, the implementation of open systems based on common international standards and a digital trade system that is paperless, sustainable and secure.
The trading system suffers from fragmented, unconnected platforms and systems and a lack of common digital standards and laws requiring modernisation and alignment. The system is unnecessarily costly, complex and slow and reduces access to SME trade finance. Currently, there is no mechanism to join up initiatives, accelerate and scale solutions, or implement the ICC Digital Standards Initiative framework. Without a coordinating mechanism, initiatives will continue to be fragmented, outcomes patchy and adoption of standards and tech solutions slow.
Digitalisation will enable us to deliver a more inclusive, sustainable and greener trading system, where more SMEs can participate in trade, trade finance is more accessible and paper is no longer required. C4DTI provides a unique opportunity to make this a reality and meet the UK government’s ambition to have a modern, open trading system with the rest of the world. Other nations and regions such as Australia, China, Germany, Japan, the Netherlands, Singapore, Thailand, APEC, ASEAN and Africa are moving quickly to capitalise on the benefits of digital trade. This is an opportunity for the UK to develop the capability needed to be a model of best practice and work with others.
If you are interested in getting involved, or have any questions, please feel free to get in touch.
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