A valve produced by Burnley-based manufacturer Fort Vale set off from Manchester Airport on Thursday 21 September. It represents the first time ever that a shipment will be processed entirely digitally, rather than via physical customs documents.
This shipment immediately follows the news that the Electronic Trade Documents Act came into force on Wednesday 20 September. The Act made the UK the first G7 country to place electronic trade documents on the same legal footing as their paper counterparts. Digitalising the documentation process will allow trade to flow faster, cheaper and more securely. It is estimated that digitalisation will reduce the processing time by up to 75%.
As 80% of customs bills worldwide are based on English law, the new Act re-enforces the UK’s position as a leader in kickstarting digital trade. This ground-breaking movement just highlights this fact.
