Consider the following about Transports InternationauxRoutiers TIR 1 It aims to harmonize shipping t...........

Economic Affairs World Trade Organsiation (WTO)

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Consider the following about Transports InternationauxRoutiers (TIR).

1. It aims to harmonize shipping trade between member nations.

2. It was adopted under the auspices of the United Nations Economic Commission for Europe (UNECE).

3. India’s Union Cabinet has approved the signing of the TIR Convention.

4. The treaty prohibits trade transport to nations that are not members of the World Trade Organization (WTO).

Select the correct answer using the codes below.

1 and 2 only

2 and 3 only

3 and 4 only

1, 2, 3 and 4

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Explanation:

Statement 1: It is a multilateral treaty concludedat Geneva in 1975 to simplify and harmonise the administrativeformalities of international road transport.The TIR system has a globally accepted electronic controlsystem for integrated transit operations.
Statement 2: TIR is the only global customs transit system thatprovides easy and smooth movement of goods across bordersin sealed compartments or containers under customs controlfrom the customs office of departure to the customs office ofdestination.This will allow India to take full benefit of International NorthSouth Transportation Corridor or INSTC, which enables accessto Eurasian region.
Statement 3: India will become the 71st signatory of theconvention as it eyes seamless trade connectivity with bothEurasian region and Southeast Asia.
Statement 4: There is no such provision.