UAE, Iran Discuss Boosting Economic Relations
(MENAFN) The Head of the Federation of Chambers of Commerce and Industry of the United Arab Emirates (UAE), Abdullah Mohamed Al Mazrouei, recently visited Iran at the head of a business delegation and expressed his country's interest in becoming Iran's top trading partner in the region, according to a report by the ICCIMA portal. During his visit, Al Mazrouei met with the Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), Gholam-Hossein Shafeie, in Tehran on Tuesday. The two leaders discussed common fields of cooperation, economic relations, and ways to expand commercial relations between the private sectors of Iran and the UAE.
Shafeie highlighted the deep historical relationship between the two countries and acknowledged the UAE's position as one of Iran's most important neighboring countries. He further stated that the UAE is currently Iran's second-largest trading partner in the world after China, with the volume of annual exchanges reaching approximately USD24 billion. Despite the restrictions of the past and the impact of political issues on economic relations, the UAE has consistently maintained a favorable position in relation to Iran, and these issues have not had a significant impact on their business relations.
The meeting between the two leaders reflects the growing interest of both countries in strengthening their bilateral ties and exploring new opportunities for trade and investment. As the UAE seeks to become Iran's top trading partner in the region, there is a need for sustained efforts to overcome any remaining obstacles and promote greater cooperation between the private sectors of both countries. By working together, Iran and the UAE can tap into their shared strengths and build a stronger economic partnership that benefits both countries.
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