The Intergovernmental Agreement on Dry Ports has entered into force, after eight of the 17 signatory countries ratify the pact, the UN Economic and Social Commission for Asia and the Pacific (ESCAP) said on Monday.
The network of dry ports defined through the agreement supports the Asian Highway and Trans-Asian Railway networks and ushers in greater prospects for the development of efficient international intermodal freight corridors.
The agreement, signed by Asia-Pacific countries on Nov. 7, 2013, will open up new development prospects for landlocked countries and areas facing the challenges of prohibitive costs and complex logistics to get their goods and services to market, according to ESCAP.
China is the eighth country to become a party to the pact by depositing its approval of the agreement with the United Nations Secretary-General. The other countries to have done so are Bangladesh, India, Kazakhstan, South Korea, Russia, Thailand and Vietnam.
ESCAP believed the agreement comes at a critical time in history, as Asia's demand for efficient transport and logistics is growing, with 61 percent of the world's population in the region generating 30 percent of the world's gross domestic product and an ever-growing share in the volume of goods traded worldwide.
The agreement also signals a move to a more sustainable growth path as dry ports create the conditions for the much-needed shift of cargo flows from road transport alone to intermodal options.
Source: Xinhua
Keyowrds: Agreement, dry ports, to support, Asian, road, railway, transport network
