TIR to boost transport along Belt and Road route
The IRU has entered into two agreements setting out an action plan for unleashing the potential of the international road transport industry in China, with TIR set to boost the total volume of trade among China and other major countries along the Belt and Road routes by 1.4%.
The separate agreements with China’s national development and reform commission and its customs authority outline plans to collaborate on the standardisation of international legal and regulatory frameworks for trade and transport.
TIR-operating countries around China would save up to 80% of transport time and 30% in transit costs when the system becomes operational, according to the IRU. (ben)