Future International Trade (FIT) Alliance
DCSA, BIMCO, FIATA, ICC and SWIFT form Future International Trade Alliance and sign memorandum of understanding to standardise digitalisation of international trade
Industry associations collaborate on the development and adoption of relevant standards to facilitate the use of electronic bills of lading
AMSTERDAM, February 15, 2022 – Digital Container Shipping Association (DCSA), a neutral, non-profit group established to further digitalisation of container shipping technology standards, in conjunction with its nine member carriers, today announced the formation of the Future International Trade (FIT) Alliance with the signing of a memorandum of understanding (MOU) between DCSA, BIMCO, FIATA, the International Chamber of Commerce (ICC) and SWIFT in which the organisations commit to collaborating to standardise the digitalisation of international trade.
Through this initiative, the FIT Alliance will work together to generate awareness about the importance of common and interoperable data standards and common legislative conditions across international jurisdictions and platforms. The aim is to facilitate acceptance and adoption of an eBL by regulators, banks and insurers and to unify communication between these organisations and customers, physical and contractual carriers, and all other stakeholders involved in an international trade transaction.
“The digitalisation of documentation for container shipments will add value for international suppliers who rely on shipping across sectors,” said David Loosley, Secretary General and CEO of BIMCO. “Aligning these standards with the electronic bill of lading standard for the dry and liquid bulk sectors, which we are developing with assistance from DCSA, will help accelerate the digitalisation of trade globally.”
“Interoperability between all actors of the trade and transport industry is the key foundation to enable smooth data exchange and to streamline the end-to-end shipping process for our members,” said Dr. Stephane Graber, FIATA Director General. “FIATA, as the owner of the only negotiable multimodal transport document, endorsed by UNCTAD and ICC, is convinced that an industry-wide effort to establish open-source, interoperable, technology-agnostic standards is essential to make digitalization of international trade a reality. FIATA is committed to facilitating adoption of digital processes for freight-forwarders. We took the lead by developing the electronic FIATA Bill of Lading (eFBL) standard, which will further the acceptance of electronic documents by all stakeholders involved in a bill of lading (B/L) transaction. By simplifying their day-to-day business, our members will be able to focus on building truly differentiated offerings for their customers on top of future-proof digital foundations.”
“ICC represents 45 million companies in over 100 countries, and our mission is to make business work for everyone, every day, everywhere,” said John W.H. Denton AO, ICC Secretary General. “Living up to that means finding ways to make international trade far less complex than it currently is. Through the FIT Alliance, we are collaborating with key industry players to create and accelerate the adoption of digital standards for bills of lading that will make international shipping dramatically more simple, secure and seamless. This will drive a sea change in companies’ productivity and business models, the two critical ingredients to help businesses build back better, and unleash benefits at an ecosystem level which have never before been achieved.”
David Watson, Chief Strategy Officer at SWIFT, said, “SWIFT is the way the world moves value, connecting 11,500 institutions in more than 200 countries and facilitating over $2 trillion in global trade every year. We have significantly accelerated cross-border flows in recent years and are innovating at scale to make them instant. To that end, we are delighted to be part of this cross-industry collaboration to tackle friction through standardisation and enable interoperability across the ecosystem to allow rich data to flow freely between multiple platforms.”
“From the beginning, DCSA has understood the importance of cross-industry collaboration to achieve the elusive goal of universal eBL,” said Thomas Bagge, DCSA CEO. “The FIT Alliance is one exciting result of our ongoing effort to drive that collaboration. Container ships carry 90% of the world’s goods. As such, an incredibly diverse set of stakeholders touches the B/L transaction—from government regulators, to insurers, to shippers from every industry. To achieve widespread use of eBL, they must all be on board with adopting digital B/L standards. The agreement between DCSA and these diverse industry associations is an exciting milestone in our journey towards standardising all container shipping documentation through our eDocumentation initiative. We applaud the foresight and leadership of these organisations for joining us in the effort to bring greater transparency, efficiency, reliability and sustainability to the container shipping industry.”
Digital Container Shipping Association (DCSA) is a neutral, non-profit group founded by major ocean carriers to digitise and standardise the container shipping industry. With the mission of leading the industry towards systematic collaboration, DCSA drives initiatives to make container transportation services transparent, reliable, easy to use, secure and environmentally friendly. DCSA’s open-source standards are developed based on input from DCSA member carriers, industry stakeholders and technology experts from other industries. DCSA member carriers include: MSC, Maersk, CMA CGM, Hapag-Lloyd, ONE, Evergreen, Yang Ming, HMM and ZIM. Please download DCSA standards at dcsa.org.
BIMCO is the world’s largest international shipping association, with over 1,900 members in more than 130 countries, representing over 60% of the world’s tonnage. Our global membership includes shipowners, operators, managers, brokers and agents. BIMCO is a non-profit organisation. bimco.org
FIATA International Federation of Freight Forwarders Associations is a nongovernmental, membership-based organization representing freight forwarders in some 150 countries. FIATA’s membership is composed of 111 Association Members and more than 5,500 Individual Members, overall representing an industry of 40,000 freight forwarding and logistics firms worldwide. Based in Geneva, FIATA is ‘the global voice of freight logistics’. fiata.org
About the International Chamber of Commerce
The International Chamber of Commerce (ICC) is the institutional representative of more than 45 million companies in over 100 countries. ICC’s core mission is to make business work for everyone, every day, everywhere. Through a unique mix of advocacy, solutions and standard setting, we promote international trade, responsible business conduct and a global approach to regulation, in addition to providing market-leading dispute resolution services. Our members include many of the world’s leading companies, SMEs, business associations and local chambers of commerce. iccwbo.org
SWIFT is a global member owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance. Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres. swift.com
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