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The Electronic Trade Documents Bill will make it possible for trade documents to be turned into digital files. Even though it sounds like a small bill, it will have a huge effect. It’s crazy that paper documents are still used in a business that’s worth £1.266 trillion to the UK. This change will have a big way on trade, but it will also show how the UK can be at the forefront of tech-friendly laws.
The Electronic Trade Documents Bill will improve the UK’s international trade, which is already worth more than £1.4 trillion, and cut down on the 28.5 billion paper trade documents that are printed and flown around the world every day.