Economy, Domestic Economy
0

Iran, Pakistan Boost Transportation Relations

Iran, Pakistan Boost Transportation RelationsIran, Pakistan Boost Transportation Relations

Iran and Pakistan will conduct a pilot project of intermodal transportation under cover of TIR carnets (TIR Convention) within three months as per a memorandum of understanding signed by the commerce chambers of the two countries, Iran Chamber of Commerce, Industry, Mines and Agriculture’s news portal reported.

The initiative will cut the cost and time of transportation between the two countries, the report noted without mentioning the date of signing the MoU.

The Convention on International Transport of Goods Under Cover of TIR Carnets (TIR Convention) is a multilateral treaty concluded in Geneva, Switzerland, on Nov. 14, 1975, to simplify and harmonize the administrative formalities of international road transport. TIR stands for “Transports Internationaux Routiers” or “International Road Transports”.

As of June 2017, there are 71 parties to the convention, including 70 states and the European Union. TIR not only covers customs transit by road but a combination is possible with other modes of transport (e.g., rail, inland waterway and even maritime transport), as long as at least one part of the total transport is made by road.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com