The Republic of Iraq, at the crossroads of several trade routes in the Middle East, has become the 78th country to accede to the United Nations TIR Convention.
Iraq’s accession to the TIR Convention anchors its strategic role as a transit hub and supports the country’s economic vision to expand its non-oil sectors.
The TIR system will boost regional trade and stimulate economic development and stability in Iraq and the wider region.
IRU Secretary General Umberto de Pretto said, “We are thrilled that Iraq has joined the TIR system.
“This development will allow Iraq to fulfil its huge potential as a regional trade hub, supporting east-west and north-south connectivity.”
“Iraq’s accession to the TIR Convention is a golden opportunity to confirm the country’s readiness to leverage the potential of international trade in supporting economic growth and driving prosperity and development,” he added.
Globally recognised for its high security standards and efficiency, the TIR system has been rapidly expanding in the Middle East. From Oman and the United Arab Emirates to Saudi Arabia, and most recently in Qatar, TIR is already significantly reducing border-crossing times and boosting trade in the region.
What is TIR?
TIR is the only global transit system. It enables goods to be shipped from a country of origin, through transit countries, to a country of destination, via a secure, multilateral, multimodal and mutually recognised system. TIR also provides a financial guarantee, managed by IRU, for the payment of suspended duties and taxes.