ASIA: UN’s Pan-Asia Digital Trade Treaty Formally Adopted

The United Nations’ Framework Agreement on the Facilitation of Cross-border Paperless Trade in Asia and the Pacific came into effect as of 20 February. The treaty, which seeks to facilitate inter-country trade and hasten trade digitalisation throughout the Asia-Pacific region, is now open for accession to the current 53 member states of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). To date, it has been adopted by 25 countries, while five countries – Azerbaijan, Bangladesh, China, Iran and the Philippines – have ratified it.

Essentially, the treaty provides a multilateral legal framework for the facilitation of cross-border paperless trade, while establishing the required legal mechanisms for harmonising member states’ national paperless trade facilities through a common set of general principles, relevant international standards and legal instruments. It also facilitates the cross-border mutual recognition of trade-related data and documents in an electronic format via its institutional arrangements and supportive operational mechanisms. Furthermore, it paves way for the wider implementation of the World Trade Organisation Trade Facilitation Agreement and its National Single Window system.