Governments Urged to Lift Legal Barriers to Digital Trade to Mitigate Covid-19 Impact
Geoffrey Wynne was quoted in the article, "Governments Urged to Lift Legal Barriers to Digital Trade to Mitigate COVID-19 Impact," published by Global Trade Review on April 22, 2020.
The article discusses the difficulties banks are facing with processing trade finance transactions with the International Chamber of Commerce calling on governments to enable an immediate transition to paperless trading. Geoff comments that "What we are saying to governments, who may be reluctant to move, is to do it on a temporary basis, for the duration of this current crisis. Set it on whatever limited basis you want. It so happens that the model law has some good wording, which saves on having to work out how to write it. If you want to make it subject to some other consent, do so, but recognise that by doing something you will be facilitating trade finance, which is very important."