ADB conducts workshop on the Model Law on Electronic Transferable Records (MLETR) in Tbilisi

On 20 April 2023 in Tbilisi, Georgia, ADB’s Trade and Supply Chain Finance Program and the Law and Policy Reform Program hosted more than 50 government officials and representative from private sector to discuss the Model Law on Electronic Transferable Records (MLETR), in conjunction with the Georgia Revenue Service and Digital Standards Initiative and UNCITRAL.
 

MLETR aims to address a key roadblock in the transition to paperless trade: the lack of recognition of electronic transferable records, such as bill 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 session, experts discussed experience from jurisdictions which have, or are in the process of adopting or aligning, their domestic legislation to MLETR.

 This session was followed by a consultation meeting with key government stakeholders to agree on next steps for a technical assistance project which will support Georgia in enhancing their legislative framework. Legislation that governs paperless trade is critical to make global trade and supply chains more transparent, resilient, and sustainable.