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🚨 🇫🇷 BREAKING: France joins Model Law on Electronic Transferable Records (MLETR) club, recognising ‘Titre Transférable Électronique’ ⚖️ Introduced by Deputy Alexandre Holroyd, this law transposes the UNCITRAL: United Nations Commission on International Trade Law MLETR into a legislative framework aimed at increasing business financing and strengthening France’s attractiveness in the context of international trade. 🗣️ Emmanuelle Butaud-Stubbs, Secretary General of ICC France, said, "We are delighted with the adoption of the law, which allows France to join the club of pioneering countries in the digitisation of international trade finance, marking a significant and concrete milestone that will enable players in international trade finance – including bankers, corporations, SMEs, Trade Tech companies, and insurers – to accelerate their digital transformation." 🗣️ UNCITRAL’s Legal Officer Luca Castellani, said, “The legislative action by France is significant in two ways. It shows that MLETR is truly compatible with all legal systems and traditions, and it represents the first example of coordination between MLETR and EU legislation like the eIDAS and eFTI regulations. Looking also at the forthcoming implementing regulation, I believe that many countries will take inspiration from this major French legislative effort.” 🗣️ Pamela Mar, International Chamber of Commerce DSI Managing Director, said, “Our aim is to develop a core framework that can then be adopted by countries, users, or other industry bodies as needed.  A single framework applied globally could ensure that systems are robust enough to meet MLETR, while also not adding undue burden to enterprises due to national variances”. 🗣️ Philippe HENRY, CEO of Dewenson Partners & Senior Advisor to Paris Europlace, said, “The French government's commitment to digital trade is further demonstrated by its advocacy for interoperable systems. These systems are crucial for ensuring that different digital platforms can communicate effectively, a key factor in the successful implementation of MLETR.” 🗣️ André Casterman, chair of the Fintech Committee at the ITFA, said, "Members of the ITFA Fintech Committee have engaged with Paris Europlace’s MLETR working group since Q2 2022 to demonstrate technology readiness and use cases. Our key message has been around the opportunities offered by the e-bill of exchange and e-promissory note. Our next priority is to help French banks embrace the new legal and technology options to develop their own product strategy and extend the benefits to their clients." 📰 Read this breaking story, authored by Deepesh Patel, by following the link in the comments section below! #internationaltrade #digitaltrade #MLETR Deepesh Patel