Corporate Networking

Our monthly get-togethers are usually well attended and fun. Come to meet new people, share with them your products and services, build your network, become more involved in this dynamic industry!

In this month's networking session, we have Mr. Sunil Senapati, a global trade specialist and consultant who will speak to us about digitalisation of trade documents. 

Global trade continues to rely heavily on paper documentation despite its legal, financial, and practical drawbacks and inefficiencies.

A typical trade transaction can take 2-3 months to complete and involve up to 27 paper documents. Four billion paper documents float through the trading system at any given time. As per the Asian Development Bank, the global trade finance gap has reached an estimated $2.5 trillion in 2022, which affects mostly SMEs.

After years of advocacy by the International Chamber of Commerce, alongside organizations such as the Bankers Association for Finance and Trade, the UN, WTO, as well the UK government, and others such as Singapore, we are now ready to embrace the use of technology in cross-border trade document digitalization.

In this session let us review and discuss the progress we are making our trades paperless and what is available for the logistics players from Singapore.