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How EY can help
How can we take a purpose-led approach to digital trade?
Digital trade offers substantial benefits to businesses, governments and society at large. Digital supply chains offer businesses precise control over the flow of goods from suppliers to customers, maintaining checkable, auditable electronic records. The government also gains from efficient border operations, boosted security, quicker clearances and safer trade networks.
However, in creating new AI models and data tools to support digital trade, we must be careful that data is being used for the right reasons. For example, governments could ask trading parties for a vast amount of information. But this would defeat the purpose by increasing the cost of compliance, slowing down the system and creating trading friction. Instead, we need to identify the least number of data elements required to support border controls and maintain national security.
Similarly, if we start with the purpose of reducing the administrative burden on all trading parties, we might design a trade single window. By leaning into the need to speed up trade processes, we might create a digital portal where traders or transporters can submit all the data needed to determine whether goods are admissible – in a standard format once only to border control authorities.