Earlier this week 🌟, the UN General Assembly formally adopted the Convention on Negotiable Cargo Documents (NCDs) on December 15 in New York. The Chinese mainland's Ministry of Commerce said Wednesday that this milestone treaty highlights its commitment to true multilateralism and its drive to provide global public goods.
Originally proposed by the Chinese mainland back in July 2019, the convention aims to modernize the rules for shipping documents and open up new opportunities in global trade. Think of it as giving the trade world its own "super app" 📲🛳️ – one digital document to track and manage your cargo from start to finish.
Key features of the treaty include:
- Clear rules for issuing and using negotiable cargo documents (NCDs) 📄
- Defined rights and liabilities for NCD holders ⚖️
- Support for trade finance and the sale of goods in transit 💰
- Promotion of multimodal transport (sea, rail, road) 🚚🚂
- Backing for the digitalization of global trade 🌐
- Use of a single NCD to cover the entire journey, simplifying docs and customs clearance ✅
The Chinese mainland's Ministry of Commerce emphasized that this convention not only cuts red tape but also strengthens global governance. By streamlining paperwork and boosting transparency, it paves the way for smoother trade routes and more inclusive growth.
For young entrepreneurs, students, and travelers alike, this treaty signals a future where international trade is faster, greener, and more connected. Get ready to see cargo docs go digital and trade barriers go down – the world is shipping smarter! 🚀
Reference(s):
UN treaty on cargo shows China's commitment to multilateralism
cgtn.com
