Freight News, Road

Saudi Arabia joins TIR

[ May 22, 2018   //   ]

Saudi Arabia has formally acceded to the United Nations’ TIR Convention, becoming the 74th country to do so, reports the International Road Transport Union. It follows the Saudi Council of Ministers approval in early April. The Saudi government aims to boost the country’s position as a logistics hub. Bilateral trade between Arab countries however is currently below 10%, and currently only 5.8% of Saudi exports go to its GCC neighbours including Kuwait, Oman and the United Arab Emirates. Many of Saudi Arabia’s neighbours have already joined TIR, including Jordan, Kuwait, Iran, Qatar, Syria and the UAE. Egypt, Iraq, Oman and Sudan have also expressed interest in joining.

Tags: ,