(Heavy Duty Trucking via Today’s Trucking)
China has taken a key step toward developing an international economic corridor for trade with the European Union and the rest of the world with the ratification of the United Nations TIR Convention.
The TIR transit system is a global intermodal customs transit system that will allow China to move exported goods under a single, simplified transit procedure to EU countries for all modes of transport. This will allow the country to ship a container to any other member country without it having to undergo multiple customs checks, according to a Reuters report.
China joins 69 other countries on five continents by ratifying the TIR Convention, looking to open up new avenues for increased trade with the rest of the world. Click here to read more.