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