GENEVA/NEW DELHI: India has become the 71st country to ratify the United Nations TIR Convention, that will boost trade and regional integration across South Asia and beyond, fast-tracking the region’s potential to become a strategic trade hub.
TIR is the global standard for goods customs transit managed and developed by IRU — the world road transport organisation.
“I am delighted to welcome India into the TIR family of nations. This is an important step in harmonising standards and boosting transport, trade and development across South Asia,” IRU Secretary General Umberto de Pretto said.
China was the last TIR contracting party who acceded to the Convention on July 6, 2016.
The accession to the TIR Convention is part of India’s multi-modal transport strategy that aims to integrate the economy with global and regional production networks through better connectivity, IRU said in a statement.
TIR will help India to integrate with Myanmar and Thailand as well as Bangladesh, Bhutan and Nepal. (AGENCIES)
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