China’s Accession to TIR Convention Opens New International Trade Routes

China has taken a key step towards the development of international economic corridors with its regional trading partners and the rest of the world with the accession to the United Nations Transports Internationaux Routiers (TIR) Convention.

The convention will enter into force for China on January 5, 2017.

EU-China trade reached $580 billion in 2015, with 60 percent transiting by sea, according to Eurostat estimates, while rail and road accounted for 10 percent of China’s exports to the EU, and 3.2 percent of the EU’s exports to China.

Source: http://www.globaltrademag.com/eu-trade/chinas-accession-tir-convention-opens-new-international-trade-routes?gtd=3850&scn=chinas-accession-tir-convention-opens-new-international-trade-routes