Trade documents including letters of credit (L/Cs) bills of lading, and invoices have been digitised in international transactions executed by Suzano Asia, the Asian subsidiary of Suzano, a leading Brazilian company specialising in the production of eucalyptus pulp and paper products.

The company has now been recognised for its efforts to digitise trade and its activities in China where the company has been able to digitise its operations out of Shanghai to an impressive extent.

Speeding the process

Suzano recently completed its first fully digital import process, cutting the transaction time from 10 days to just 3-4 days, according to president of business management at Suzano Asia, Pablo Machado.

The company has also been recognised as a Pilot Enterprise for Maritime Trade Digitisation by the Lin-gang Special Area in Shanghai, in recognition of Suzano's innovative approach to digitising the maritime documentation process, together with its upstream and downstream partners along the value chain.

Active innovation

Suzano has been actively expanding its presence in Asia, particularly in China, to cater to the growing demand for sustainable materials in the region.

In March 2023, the company inaugurated its Innovability Hub in Shanghai's Zhangjiang Science City, marking its first research and development centre in Asia. This hub focuses on addressing customers' evolving needs for pulp and developing new bio-based materials and applications.

Digital L/C trends

Suzano's recognition as an innovator in digital trade underlines its commitment to enhancing efficiency and transparency in international trade processes, potentially including the digitisation of L/Cs.

This aligns with broader trends in the industry, where digitising trade finance instruments like L/Cs is seen as a means to streamline transactions, reduce risks, and improve overall trade efficiency.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.