China ratifies UN TIR Convention with new trade prospects in view

TIN news:   China’s ratification is an important step in improving land and multimodal transport between Asia and Europe, and a sign of the country’s steady integration into global transport and trade norms.
The TIR System will, in particular, underpin China’s Belt and Road Initiative, aiming to boost trade, development and cooperation along ancient Silk Road routes.
“I’m delighted to welcome China into the TIR family of nations. This is an important step in harmonising standards and boosting transport, trade and development across the Eurasian landmass”, said Umberto de Pretto, IRU Secretary General.   
“IRU has been a strong supporter of China’s Belt and Road Initiative, and we will continue working closely with the Chinese government and business community as we turn our attention now to implementing the TIR system,” added Mr de Pretto.
TIR-operating countries around China, including Afghanistan, Kazakhstan, Kyrgyzstan, Mongolia, Russia and Tajikistan, are also set to see a boost to transport and trade when the system becomes operational in China. Pakistan is also currently implementing TIR after its own ratification of the convention last year.
“China’s accession to the TIR Convention will open new efficient and faster transport opportunities and transport routes between China and Europe. It can become a real game changer for international trade and is a strong contribution to the Chinese vision for the Belt and Road Initiative,” said UNECE Executive Secretary Christian Friis Bach.
“We warmly welcome China to the TIR Convention and look forward to working closely with China and all TIR contracting partners to turn this decision into strong opportunities for trade, transport and economic growth,” he added.
 
The world’s only universal customs transit system and one of the most successful international transport conventions, TIR makes border crossings faster, more secure and more efficient, reducing transport costs, and boosting trade and development.
The United Nations Secretary General has confirmed that the TIR Convention will enter into force in China on 5 January 2017.