“Economic figures show that Iran-UAE business interactions
have increased in recent years, and more than 122,000 Iranian businessmen are
doing business in the UAE,” Saif Mohammed al-Zaabi said in a meeting with Head
of Iran Chamber of Cooperatives Bahman Abdollahi.
Pointing out that the problems of Iranian and Emirati
businessmen and economic operators are not political but in the legal field, he
admitted: “Cooperation between the two countries in the field of sea and air
transport has also increased.”
Abdollahi for his part introduced some of the capabilities
of the cooperative sector in Iran and said: “Cooperatives have an important and
effective position in Iran and a significant part of the production in our
country is done by cooperatives.”
The value of non-oil trade between Iran and the UAE was
reported at US$8.064 billion during the first four months of the current
Iranian calendar year, the head of the Islamic Republic of Iran Customs
Administration (IRICA) announced.
Iran and the United Arab Emirates signed a memorandum of
understanding (MoU) for expanding economic cooperation in a variety of areas at
the end of the two countries’ 3rd Joint Economic Committee meeting in May this
year.
The MoU was signed by Iranian Transport and Urban
Development Minister Mehrdad Bazrpash and UAE’s Economy Minister Abdullah bin
Touq Al Marri, who co-chaired the joint meeting.
During the mentioned committee meeting, the two sides
stressed the need for further expansion of economic cooperation between Tehran
and Abu Dhabi.
Speaking at the end of the meeting, Bazrpash said, “We have
held the joint commission between the two countries after 10 years, which is an
opportunity to develop the commercial and economic relations between the two
countries.”
“The UAE, as Iran's second biggest trade partner, has great
strategic importance for us,” the minister said.
Referring to the location of Iran and the UAE in the
International North-South Transit Corridor (INSTC), Bazarpash said, “Access to
the markets of the north and south can create an opportunity for the two
countries to cooperate.”
In the end, the minister emphasized solving the banking and
monetary problems between the two countries to facilitate bilateral trade
relations.
Abdullah bin Touq Al Marri for his part underlined the importance
of the meeting said, “Holding today's meeting shows the development and
expansion of economic relations between the two countries. After China, the UAE
has the largest amount of trade relations with Iran. The trade value of the two
countries has reached US$27 billion and many Iranian companies are established
in the UAE.”
“Creating new opportunities for transportation and banking
cooperation is one of the achievements of this commission,” the official said.
Referring to the performance of the UAE government in the
field of investment, the official said: “The approval of the law on the
formation of foreign companies and the government’s support for companies that
operate in the field of new energies has created a good opportunity for business
with the UAE.”
The 3rd Iran-UAE Joint Economic Commission was held in Abu
Dhabi from April 30 until May 1.
