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First International Road Trade Route Between Pakistan And China Launched

In a significant development aimed at bolstering bilateral trade ties, Pakistan and China have inaugurated a new trade route under the International Road Transport (TIR) Convention. This ambitious project commences in China's inland city of Kashgar and stretches to the capital city of Islamabad in Pakistan. The commencement of this trade route marks a milestone in the China-Pakistan Economic Corridor (CPEC) and has the potential to revolutionize cross-border transport in the region.

The Inaugural Convoy

The inaugural ceremony for this groundbreaking project saw the departure of the first convoy of five trucks from Kashgar. This event was graced by the presence of both Chinese and Pakistani officials, signifying the mutual commitment of the two nations towards enhancing their economic cooperation.

A Strategic Partnership

The National Logistics Corporation of Pakistan and China's CEVA Logistics have inked an agreement to facilitate trade under the United Nations International Road Transport Convention. This partnership is set to streamline logistics and transportation processes, making it more efficient and cost-effective for businesses in both countries. 

Reducing Customs Expenses

One of the key advantages of the new trade route is its potential to significantly reduce additional customs expenses during cross-border transportation. This will simplify the trading process and make it more economically viable for businesses engaged in cross-border trade between China and Pakistan.

Burgeoning Trade Volume

The trade volume between China and Pakistan has witnessed remarkable growth in recent years. In 2022, the bilateral trade volume reached a substantial $12.06 billion. This underscores the importance of improving trade infrastructure and connectivity between the two nations.

A Precursor for CPEC

The inauguration of the TIR trade route holds particular significance for the broader China-Pakistan Economic Corridor (CPEC). It serves as a trailblazing example of cross-border transport innovation in the region. As the flagship project of China's Belt and Road Initiative, CPEC aims to bolster economic ties between China and Pakistan and beyond.

The launch of the inaugural TIR trade route between China and Pakistan represents a pivotal moment in the economic partnership between these two nations. It enhances trade prospects and highlights the potential for innovative cross-border transport solutions. As the China-Pakistan Economic Corridor expands, such initiatives pave the way for greater economic integration and prosperity in the region. The collaboration between Pakistan and China in trade and infrastructure development is poised to reshape the economic landscape of South Asia.

 

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