ISLAMABAD – Pakistan and China have launched a new trade route under the international road transport (TIR) to boost bilateral trade.
The route starts from China’s inland city of Kashgar to the Pakistani capital city of Islamabad. Earlier this week, the first convoy of five trucks departed from Kashgar after an inaugural ceremony which was attended by the Chinese and Pakistani officials.
The National Logistics Corporation of Pakistan and China’s CEVA Logistics have signed an agreement to facilitate trade under e United Nations International Road Transport Convention.
The new route will also reduce additional customs expenses during cross-border transportation. The trade volume of China and Pakistan stood at $12.06 billion in 2022.
This is the first inaugural TIR trade route between China and Pakistan, “highlighting a fresh mode of cross-border transport for Xinjiang and potentially setting a precedent for future trade routes within the China-Pakistan Economic Corridor (CPEC),” state-run broadcaster reported.
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