News
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 ratification of the United Nations TIR Convention, bringing the number of contracting parties to 70 on the 5 continents. The convention will enter into force for China on January 5, 2017.
EU-China trade reached EUR 520 billion in 2015, and some 60% transited by sea, according to Eurostat estimates, while rail and road accounted for some 10% of China's exports to the EU, and 3.2% of the EU’s exports to China.
The accession of China will further foster the opportunities for economic growth and development of China and transit countries, facilitate trade with Central Asian countries, Mongolia and the European Union, as well as stimulate China's transit and logistics services.
TIR stands for ''Transports Internationaux Routiers'' and is the only universal customs transit system for moving goods across international borders.
