Digital Container Shipping Association (DCSA) announced the formation of the Future International Trade (FIT) Alliance with the signing of a memorandum of understanding (MOU) between DCSA, BIMCO, FIATA, the International Chamber of Commerce (ICC) and SWIFT.
The collaboration will see organisations commit to collaborating to standardise the digitalisation of international trade.
Through this initiative, the FIT Alliance will work together to generate awareness about the importance of common and interoperable data standards and common legislative conditions across international jurisdictions and platforms.
The aim is to facilitate acceptance and adoption of an eBL by regulators, banks and insurers and to unify communication between these organisations and customers, physical and contractual carriers, and all other stakeholders involved in an international trade transaction.
The digitalisation of documentation for container shipments will add value for international suppliers who rely on shipping across sectors
said David Loosley, Secretary General and CEO of BIMCO.
What is more, Dr. Stephane Graber, FIATA Director General added that interoperability between all actors of the trade and transport industry is the key foundation to enable smooth data exchange and to streamline the end-to-end shipping process for our members.
“Living up to that means finding ways to make international trade far less complex than it currently is. Through the FIT Alliance, key partners are collaborating to create and accelerate the adoption of digital standards for bills of lading that will make international shipping dramatically more simple, secure and seamless, believes John W.H. Denton AO, ICC Secretary General.
SWIFT is the way the world moves value, connecting 11,500 institutions in more than 200 countries and facilitating over $2 trillion in global trade every year
stated David W.atson, Chief Strategy Officer at SWIFT
“The agreement between DCSA and these diverse industry associations is an exciting milestone in our journey towards standardising all container shipping documentation through our eDocumentation initiative,” concluded said Thomas Bagge, DCSA CEO.