DIWANFEASIBILITYSUBSCRIBER

The Paper Trade: Digitising Physical-Commodity Flows Through the Gulf

Electronic bills of lading, the MLETR statute race and whether Dubai can take documentation share from Geneva, Singapore and London

APAC · GCC

15 JUL 202617 MINCLOSED

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The Prize and the Paper

The Gulf already moves the goods. Merchandise trade across the six Gulf Cooperation Council states reached $1.6tn in 2024, according to GCC-Stat, and the UAE alone pushed non-oil foreign trade past the $1tn mark in 2025 — AED 3.8tn, the first time the threshold has been crossed. What the region does not yet host in proportion is the documentation: the bills of lading, warehouse receipts, promissory notes and letters of credit that determine where a cargo is owned, financed and, when disputes arise, litigated. That layer still clears overwhelmingly through the incumbent hubs — Geneva trading d…

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