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ADB Supports Legislative Reform on Digitalization of Trade Documents in Georgia

Model
Model Law on Electronic Transferable Records (MLETR) Workshop

On 20 April 2024 in Tbilisi, ADB’s Law and Policy Reform Program and Trade and Supply Chain Finance Program joined efforts with the Georgia Revenue Service,  Digital Standards Initiative, and UNCITRAL to host more than 50 government officials and private sector representatives for a discussion on the Model Law on Electronic Transferable Records (MLETR). MLETR aims to address a key roadblock in the transition to paperless trade: the lack of recognition of electronic transferable records, such as bills of lading or warehouse receipts, in domestic legal systems. 

This workshop provided a targeted overview of MLETR benefits, features, and technicalities as well as its critical importance in the context of advancing the digitization of trade.  During this event, experts discussed experiences from jurisdictions which have, or are in the process of adopting or aligning, their domestic legislation to MLETR. 

This event was followed by a consultation meeting with key government stakeholders on 21 April 2024 to agree on the next steps for the technical assistance which will support the Government of Georgia in enhancing its legislative framework. Legislation that governs paperless trade is critical to making global trade and supply chains more transparent, resilient, and sustainable.


 

Contact Person

Nigel Chin
Principal Counsel
Asian Development Bank (ADB)