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Iraq can become regional trade hub and boost non-oil sectors with TIR

27 Feb 2023 · Prosperity

On the sidelines of the UN’s 85th Inland Transport Committee (ITC) session last week, IRU’s Secretary General and Iraq’s Minister of Transport discussed the country’s highly anticipated accession to the TIR system.

The Republic of Iraq, with the support of its Ministry of Transport, has completed all national requirements to join TIR, laying the ground for the final official accession step with the UN.

During the UN’s 85th ITC meetings in Geneva, Switzerland, last week, Iraq’s Minister of Transport, His Excellency Razak Muhaibes Ajimi, held high-level talks with IRU’s Secretary General Umberto de Pretto on his country’s ambitious economic and trade vision.

Razak Muhaibes Ajimi supports Iraq’s accession to TIR, viewing it as a vital tool to grow non-oil sectors and establishing the country as a regional trade hub.

IRU Secretary General Umberto de Pretto said, “By joining the TIR Convention, Iraq will send a strong signal to the world that it is now truly open for business.

“The TIR system will elevate Iraq’s role as a transit hub between Europe and Asia, ensuring that goods flow both efficiently and securely.”

“TIR has propelled trade facilitation and boosted trade for neighbouring countries. There is no reason it couldn’t be the same with Iraq, especially given the country’s strategic location,” he added.

Iraq is the only country in the region that has yet to accede to TIR. The TIR system significantly accelerates border crossing times, secures trade and ensures the payment of customs duties and taxes through a robust guarantee mechanism.