A scheme which aims to speed up goods exports has demonstrated the potential of digital tools to significantly cut processing times for key trade documents.
The pilot, led by the Department for Business and Trade, was carried out with companies trading between the UK and Japan.
UK businesses taking part saw cost savings from eliminating paper-based shipping documents, reduced administrative burdens through faster, automated processes, and greater efficiency across their supply chains.
Under the pilot, documentary credit checks performed by banks – which commonly take up to ten days – were reduced to just one hour, paving the way for wider rollouts of the technology and complementing the UK’s digital trade corridor programme also under way with France and Germany.
Last month, the British Embassy Tokyo and the Department for Business and Trade brought together more than 50 Japanese industry leaders and representatives at an event marking the publication of reports, highlighting the benefits and opportunities of digital trade.
Minister for the Digital Economy Liz Lloyd said:
“This pilot shows how digital trade can deliver real, tangible benefits for UK exporters – helping businesses move goods faster and with greater confidence.
“By working closely with partners in Japan, and complementing our promising digital trade corridors with France and Germany, the UK is demonstrating global leadership in making trade cheaper, faster and more secure through innovation.”
Professor David Hughes, Coordinator of the Digital Trade Testbed at Teesside University, said:
“It’s exciting to see how quickly these foundational building blocks are coming together.
“What matters now is turning successful demonstrations into repeatable, day-to-day processes so businesses of all sizes can scale, trade with confidence, and realise the benefits of digital trade across the UK–Japan corridor.”
