NCD Convention promotion event held in Chongqing

By Liu Xinyu

(ECNS) – "From Chongqing to Accra: The UN Convention on Negotiable Cargo Documents to Build a New Inclusive Global Trade Prospect" promotion event was held in Chongqing on Monday. The event was co-hosted by the Chongqing Municipal People's Government and the United Nations Commission on International Trade Law (UNCITRAL).

Anna Joubin-Bret, secretary of UNCITRAL, said at the event that the Convention, adopted by the United Nations General Assembly in December 2025, establishes a harmonized legal framework for negotiable cargo documents applicable across all modes of transport - whether by sea, rail, road, or air.

"It enables goods in transit to be represented by a single negotiable document, including in electronic form. It is a game-changer in international trade, designed to make global trade work more smoothly and efficiently for all stakeholders," she said.

She also noted that the successful development of the NCD Convention would not have been possible without the sustained engagement and leadership of China.

"China's role was not only that of an active participant, but also that of a key driving force behind the development of the Convention," Joubin-Bret added.

Dr. Harry Zevon, Chargé d'Affaires of the Embassy of the Republic of Ghana in China, announced that the Republic of Ghana will host the signing ceremony of the Convention on October 26, 2026.

"The Convention extends the long-established benefits of maritime bills of lading to all modes of transport. For the first time in history, goods carried by road, rail, air or sea can be represented by a single negotiable document, on paper or in electronic form," he said.

Zevon added that the Convention provides a harmonized, practical solution in a single document covering multimodal transport, potentially in electronic form, that can transform how goods move across borders.

He extended an invitation to all member states to nominate high-level representatives – ministers or ambassadors with full powers – to sign the Convention in Accra on Oct. 26.

During the event, the Chongqing Municipal Port and Logistics Office released the Public Service Platform for Negotiable Cargo Documents.

Yang Lin, director-general of the Chongqing Municipal Port and Logistics Office, pointed out that traditional cross-border trade, especially for inland regions and countries, often faces four pain points in logistics documentation: lack of documents of title, insufficient mutual trust, difficulties in documentary financing, and poor systemic coordination.

He described these as "four locks" that hinder cargo rights, trust, financing and efficiency, and the key to unlocking them is the NCD Convention.

Following the launch of the platform, document circulation time has been reduced from two days to just two hours, and financing approval has been shortened from nearly one month to three days.

The platform has so far recorded 2,659 digital documents on the blockchain, including 39 eNCDs, supporting various business scenarios such as rail-sea intermodal transport and international railway intermodal transport.

In an in-depth dialogue session, Li Yanying, legal officer of UNCITRAL, explained that NCDs can help retain control over goods in transit until payment is secured from a legal perspective.

"For shippers, they provide greater flexibility in trade, including the ability to resell goods while in transit in response to market opportunities or disruptions. For banks, NCDs can facilitate trade finance, particularly for small businesses that may lack sufficient collateral. For freight forwarders, NCDs support the development of multimodal transport," Li said.