Value of Iran’s non-oil commodities exports to UAE reach USD783M in 1 month
Date
12/3/2024 7:22:22 AM
(MENAFN) Iran exported non-oil commodities worth USD783 million to the United Arab Emirates (UAE) during the Iranian calendar month of Mehr, spanning September 22 to October 21. This data was shared by Ruhollah Latifi, spokesman for the International Relations and Trade Development Committee of Iran's House of Industry, Mining, and Trade. He noted that the UAE ranked as the fourth-largest export destination for Iranian goods during this period, highlighting the ongoing trade relationship between the two nations.
In the same month, the UAE emerged as the leading source of imports for Iran, with goods valued at USD2.18 billion exported to Iran. This underscores the significant role the UAE plays as a primary trade partner for Iran. Mohammad Rezvanifar, the former head of the Islamic Republic of Iran Customs Administration (IRICA), had earlier reported that the non-oil trade value between the two countries reached USD16.2 billion in the first seven months of the Iranian calendar year, ending October 21. Rezvanifar emphasized that the UAE was Iran's top trading partner among neighboring countries during this time.
Economic ties between Iran and the UAE have shown steady growth, with over 122,000 Iranian businesspeople operating in the UAE, according to Saif Mohammed al-Zaabi, the UAE ambassador in Tehran. Speaking in a meeting with Bahman Abdollahi, Head of Iran’s Chamber of Cooperatives, al-Zaabi highlighted the increasing business interactions between the two countries. He attributed the growth to mutual interests rather than political factors, noting that most challenges faced by businessmen from both nations are of a legal nature.
The ambassador also pointed to expanding cooperation in sea and air transportation, further facilitating bilateral trade. This collaboration reflects a shared commitment to enhancing economic ties despite regional complexities. The strengthening of trade and transport links indicates the importance both nations place on their economic partnership.
MENAFN03122024000045015839ID1108950688
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.