UN accepts Pak's Instrument of Accession to TIR Convention.
ISLAMABAD -- The United Nations has accepted Pakistan's Instrument of Accession to the customs convention on the International Transport of Goods (TIR Convention).
According to a statement issued here on Monday the Convention would enter into force for Pakistan on January 21, 2016.
Accession to TIR Convention will greatly facilitate Pakistan's trade with Afghanistan, Central Asian and even Europe. TIR Convention provides that goods will be accompanied by an internationally accepted customs document (TIR Carnet), opened in the country of departure and serving as a customs control document in the countries of departure, transit and destination.
Goods will travel in customs secure vehicles or containers and throughout the journey, duties and taxes at risk will be covered by an internationally valid guarantee.
Customs control measures taken in the country of departure will be accepted by all countries of transit and destination.
With the increased focus on regional trade and connectivity with Afghanistan, Central Asia and ECO, implementation of different transit trade agreements or treaties including TIR has become crucial.
All Economic Cooperation Organization (ECO) countries, except Pakistan, had acceded to TIR Convention.
This Convention will facilitate free movement of all goods/carried within the ECO countries under ECO Transit Transport Framework Agreement (TTFA), it added.
Minister for Commerce Engineer, Khurram Dastgir Khan said that accession to TIR Convention was a great step in trade facilitation as accession to TIR Convention had been under consideration of Government of Pakistan for last 13 years.
TIR Convention is a legal framework for traffic-in-transit of goods across borders among the contracting parties without involving payment of Customs duties and taxes.