ICC Digital Standards Initiative launches expanded recommendations for trade documents
The ICC Digital Standards Initiative (DSI) has unveiled its expanded digital standards recommendations under DSI’s Key Trade Documents and Data Elements (KTDDE) practice today. The launch marks a major step forward in DSI’s mission to bridge the gap between standards and adoption within industry.
The launch of the baseline analysis for 14 key trade documents – covering transport and logistics, finance and payment processes and documents of title – adds to the existing set of seven documents launched in March 2023. The enhancement includes a new key trade data glossary and data sharing map across the 21 documents developed by the KTDDE working group over the last six months.
The work builds upon foundational standards work by standards development organisations such as the World Customs Organization (WCO) and United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) and industry organisations such as The International Trade and Forfaiting Association (ITFA), the Global Legal Entity Identifier Foundation (GLEIF) and GS1, among others. The expanded package serves as a foundational resource for promoting alignment and interoperability across networks and supply chains.
The launch took place at a dedicated event organised by ICC UAE and hosted by Dubai Chambers, upon the conclusion of the MENA Supply Chain Finance Forum.
Robert BeidemanChief Product Officer of GS1, Vice-Chair of the ICC DSI Industry Advisory Board (IAB) and Chair of the KTDDE working group
The DSI’s continued efforts to expand the understanding of digital standards in international trade represent a significant step forward in streamlining global commerce. By promoting data reusability and consistency across supply chains, we are facilitating more efficient and secure transactions for businesses across the globe.
Pamela MarManaging Director of ICC DSI, highlighted the importance of a digital standards baseline in DSI’s overall objective of digitalising trade.
By creating transparency and accessibility around trade documents and their core data elements, we aim to enable a more rapid digital transformation among industry.
Richard WulffExecutive Director of the International Credit Insurance and Surety Association (ICISA) and active member of the IAB who was present at the launch, underscored the pivotal role of industry associations.
Industry associations like ICISA play a crucial role in shaping the future of international trade. Participation in efforts like the ICC Digital Standards Initiative is essential to ensure the industry’s voice and expertise contribute to the evolution of global trade standards and practices.
Hassan Al HashemiSecretary General of ICC UAE and Vice-President of International Relations, Dubai Chambers which co-organised the launch, spoke about the importance of trade digitalisation for driving growth and prosperity.
We are delighted to partner with ICC DSI for this launch and to support this business enabling initiative.
H.E. Humaid M. Ben SalemChair of ICC UAE
This work of ICC DSI is central to the mission of the ICC, which I like to refer to as the International Connected Community.
For more information about the ICC Digital Standards Initiative and the Key Trade Data Glossary, please visit www.dsi.iccwbo.org