Written question asked by Lord Thomas of Cwmgiedd (Crossbench) on Tuesday, 1 July 2025, in the House of Lords. It was due for an answer on Tuesday, 15 July 2025. It was answered by Baroness Gustafsson (Labour) on Monday, 14 July 2025 on behalf of the Department for Business and Trade.
Electronic Trade Documents Act 2023
- Question
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To ask His Majesty's Government what assessment they have made of the potential economic growth generated by the full utilisation of the Electronic Trade Documents Act 2023, and what steps they are taking to fully utilise that Act.
- Answer
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The Electronic Trade Documents Act’s Impact Assessment estimates that electronic trade documents (ETDs) could generate £1.1bn over a decade by reducing trade costs, accelerating transactions, and improving access to trade finance, particularly for SMEs.
To support ETD uptake, we have recently launched several initiatives in the Trade Strategy. This includes plans to establish Digital Trade Corridors with key European markets, setting up an SME Capability Programme to help smaller firms adopt digital trade tools, and launching an ETD Information Hub on Business.Gov.UK to support businesses transition. We are also promoting international legal reform on ETDs through bilateral and multilateral engagement.
Secondary information
- Type
- Written question
- Reference
- HL9023
- Session
- 2024-26
- Subjects
- Digital technology Economic growth Small businesses
- Legislation
- Electronic Trade Documents Act 2023
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2025-09-05 23:54:03 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2024-25/HL9023
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2024-25/HL9023
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2024-25/HL9023