China ratifies UN's Transports Internationaux Routiers Conve
THE UN's Economic Commission for Europe (UNECE) has said China has ratified the TIR Convention that will streamline cross-border movement of cargo moving between China and Europe, reports American Shipper.
China has ratified the Transports Internationaux Routiers (TIR) Convention, bringing the number of member state signatories on five continents to 70.
EU-China trade reached EUR520 billion (US$575.9 billion) in 2015, and about 60 per cent of that transited by sea, according to Eurostat estimates, while rail and road accounted for about 10 per cent of China's exports to the European Union, and 3.2 per cent of EU exports to China.
"China's accession to the TIR Convention can become a real game changer for international trade and is a strong contribution to the Chinese vision for 'One Road One Belt," said UNECE executive secretary Christian Friis Bach.
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