To promote trade and economic growth, Iraq joins TIR

 The Republic of Iraq, which is located at the intersection of numerous trade routes in the Middle East, has joined the UN TIR Convention as the 78th nation.

Iraq's ratification of the TIR Convention solidifies its position as a strategic transit center and advances its economic strategy to diversify its economy away from oil.

The TIR system will encourage regional trade, economic growth, and stability in Iraq and the surrounding area.

We are happy that Iraq has joined the TIR system, said IRU Secretary General Umberto de Pretto. "This achievement will let Iraq to fulfill its enormous potential as a regional economic hub, promoting east-west and north-south connectivity."

He continued, "Iraq's membership to the TIR Convention is a golden chance to confirm the country's readiness to exploit the potential of global trade in fostering economic growth and advancing prosperity and development."

The TIR system, which is well-known around the world for its high-security standards and effectiveness, has been quickly growing throughout the Middle East. TIR is already dramatically lowering the time required to cross borders and improving trade in the region, from Oman and the United Arab Emirates to Saudi Arabia and most recently Qatar.

The only international transit system is TIR. It permits the safe, multilateral, multimodal, and mutually recognized transportation of commodities from a country of origin through transit countries to a country of destination. In addition, TIR offers an IRU-managed financial guarantee for the payment of taxes and duties that have been suspended.