The Reset Programme, which was started in 2019 immediately after the FIATA World Congress in Cape Town, the 59th FIATA World Congress in 2022 in Busan, Republic of Korea, which was postponed by two years due to the pandemic, marked a significant accomplishment in the following FIATA chapter. With the introduction of the paperless FIATA Bill of Lading in this chapter, FIATA has achieved its greatest feat in history.
The FIATA Bill of Lading (FBL) is most commonly used by Korea, and FIATA is leading the way in the sector digitally with Korea clearly on board, which will also enable their market to thrive. This year’s World Congress is all the more significant because of their mutual link. The news conference held on September 15 in Busan highlighted the value of FIATA in formulating policies and advancing the digital industry. According to a statement released by FIATA during the second Congress Press Conference, eight national associations have signed the Distribution Agreement to permit members to begin using the eFBL. This brings the total number of software providers working with FIATA for the eFBL implementation process up to 15.
Since the launch, FIATA has made significant progress. A major international bank, Arab Bank (Switzerland), has approached FIATA and offered to work with it to develop the future of trade flows, demonstrate the interoperability of the eFBL, and unleash global connectivity between freight forwarders, logistics providers, software developers, and financial institutions. Arab Bank has launched a Proof of Concept with FIATA, CargoX, and edoxOnline that will test the transfer of an eFBL between two bank customers using various eBL platforms. The bank will act as an intermediary and provide a secure environment to transfer the document along with the title of the goods.
The transfer of the eFBL, represented as an NFT (non-fungible token), from the seller’s eWallet to the buyer’s eWallet will immediately initiate the transaction.
This is a crucial first step in the long process of building the ecosystem necessary for a completely digital supply chain. Mid-October is when the POC’s final phase, which includes a complete test transaction, is supposed to happen. Keep checking for updates, then.
In order to solve the maritime crisis, the Convention has also provided an opportunity for FIATA HQ to reaffirm, consolidate, and enhance its mandate for advocacy activities, urging for a level playing field as well as to reform and assure regulatory consistency. This is accomplished through the use of an Extended Board resolution that, in accordance with FIATA Statutes Art. 5.4.1, recognises the significance of international forwarding and reflects a broad representation of the FIATA Membership in terms of geographic structure.
The resolution calls for antitrust laws affecting the shipping sector to be clarified through regulatory measures. Global regulators must keep an eye on the extent of data sharing and coordinated activity in alliances and consortia and make sure they are limited to port-to-port activities to prevent vertically integrated carriers’ competition arrangements from being applied to industries where they are not intended. To assess whether legislation is still effective, its impact must be periodically tracked using a set of KPIs that are acceptable to all participants in the maritime supply chain. As part of the marine sector’s attempts to become carbon neutral, FIATA also seeks an early regulatory framework that will ensure cost-sharing is fair and charges are transparent.
The EU Consortia Block Exemption Regulation review is currently underway, making this endeavor timely. The clarification offered by FIATA’s Presidency and Extended Board will direct FIATA’s global reaction and support for regional initiatives.
The 2022 Young Logistics Professional Award regional winners were also announced at this year’s Congress, and an award presentation took place during the Closing Ceremony. For the first time this year, the convention featured a full-day program specifically for young logisticians. Through this event, young professionals had the opportunity to hear from experts, teachers, and mentors in the logistics industry. For FIATA, which constantly works to highlight the future generation and draw young people to the freight forwarding industry, this was a crucial endeavor.
The Vietnamese Logistics Association, a member of FIATA, won the bid to host the 2025 FIATA World Congress in Hanoi. In the interim, FIATA is looking forward to welcoming the entire world of logistics to Brussels for the 2023 World Congress.
