Pakistan and China have jointly initiated a novel trade route using the international road transport (TIR) mechanism to strengthen their bilateral trade ties.
The route originates in the Chinese city of Kashgar and extends to the Pakistani capital, Islamabad. The inaugural ceremony marked the beginning of the route, with a convoy of five trucks departing from Kashgar. Dignitaries from both China and Pakistan participated in the event.
The National Logistics Corporation of Pakistan and China’s CEVA Logistics have entered into an agreement to facilitate trade operations under the United Nations International Road Transport Convention (TIR). This newly established route is expected to streamline cross-border transportation, consequently reducing additional customs expenditures. The trade volume between China and Pakistan amounted to $12.06 billion in 2022.
Marking the first TIR trade route launch between the two nations, this initiative showcases a fresh cross-border transportation model for Xinjiang, China. It holds the potential to set a precedent for upcoming trade routes within the framework of the China-Pakistan Economic Corridor (CPEC), as reported by the state-run broadcaster.
AMIN BALOCH,
Tunk.