The International Chamber of Commerce (ICC) launched Legal Reform Advisory Board (LRAB) to boost global digital trade

Posted on January 14, 2022   |  

  • The International Chamber of Commerce (ICC) formed LRAB that includes intergovernmental, policy, and industry actors in the global trade and trade finance industry to boost digital trade legal form in 100 countries.
  • The LRAB aims to combine its members and drive globally coordinated, digitalized trade conditions. 
  • The LRAB will obtain an EU-wide mechanism in place to facilitate the alignment of EU laws to the UNCITRAL Model Law on Transferable Electronic Records (MLETR).
  • LARB intends to obtain a Commonwealth ministerial commitment at the Commonwealth Heads of Government Meeting, which will be held in Rwanda in 2022 which will integrate legal harmonization into the framework of the African Continental Free Trade Area. 
  • The LRAB will use its bilateral trade negotiations to support individual governments that have already agreed to align the legal framework between Singapore and the UK, the Abu Dhabi Global Market, and China, and create a network of modern digital trade highways.



Previous Next