Asian Development Bank Supports Legislative Reform on Digitalization of Trade Documents in Georgia

On 20 April 2024 in Tbilisi, the Asian Development Bank's Law and Policy Reform Program and Trade and Supply Chain Finance Program joined efforts with the Georgia Revenue Service, Digital Standards Initiative, and the United Nations Commission on International Trade Law in hosting 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. 

The 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 the event, experts discussed experiences from jurisdictions which have, or are in the process of adopting or aligning their domestic legislation to MLETR. 

The 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.