TEHRAN Iran exported non-oil products valued at $4.8 billion to the United Arab Emirates (UAE) throughout the first eight months of the present Iranian calendar year (March 20-November 20), the head of the Islamic Republic of Iran Customs Administration (IRICA) announced.Foroud Asgari said that the UAE was Irans third top export destination in the mentioned eight-month period.Exporting commodities valued at $13.6 billion to Iran, the United Arab Emirates was Irans top source of import in the first 8 months of today year, the main additional added.As previously announced by the previous head of the Islamic Republic of Iran Customs Administration (IRICA), the value of non-oil trade between Iran and the United Arab Emiratesstood at $16.2 billion in the first seven months of the current Iranian calendar year (March 20-October 21).
Mohammad Rezvanifar said that the UAE was the top trade partner of Iran amongst its next-door neighbors in the seven-month period.In early August, the Ambassador of the United Arab Emirates in Tehran stated over 122,000 Iranian business persons are presently operating in the UAE.Economic figures reveal that Iran-UAE company interactions have increased in recent years, and more than 122,000 Iranian entrepreneurs are doing service in the UAE, Saif Mohammed al-Zaabi stated in a meeting with Head of Iran Chamber of Cooperatives Bahman Abdollahi.Pointing out that the issues of Iranian and Emirati entrepreneurs and financial operators are not political however in the legal field, he confessed: Cooperation between the 2 nations in the field of sea and air transportation has also increased.Abdollahi for his part introduced some of the capabilities of the cooperative sector in Iran and stated: Cooperatives have an important and efficient position in Iran and a significant part of the production in our nation is done by cooperatives.Iran and the United Arab Emirates signed a memorandum of understanding (MOU) for broadening economic cooperation in a variety of locations at the end of the 2 countries 3rd Joint Economic Committee meeting in May 1.
The MOU was signed by former Iranian Transport and Urban Development Minister Mehrdad Bazrpash and UAEs Economy Minister Abdullah bin Touq Al Marri, who co-chaired the joint meeting.During the pointed out committee conference, the 2 sides worried the requirement for further expansion of financial cooperation in between Tehran and Abu Dhabi.Speaking at the end of the conference, Bazrpash stated: We have held the joint committee between the 2 nations after 10 years, which is an opportunity to establish the business and financial relations between the two countries.The UAE, as Irans 2nd most significant trade partner, has fantastic tactical significance for us, the minister said.Referring to the place of Iran and the UAE in the International North-South Transit Corridor (INSTC), Bazarpash stated: Access to the markets of the north and south can develop an opportunity for the two nations to cooperate.In completion, the minister emphasized solving the banking and monetary issues between the two nations to assist in bilateral trade relations.Abdullah bin Touq Al Marri for his part underlined the value of the meeting, stating: Holding todays meeting shows the development and growth of economic relations in between the two countries.
After China, the UAE has the biggest quantity of trade relations with Iran.
The trade worth of the 2 countries has actually reached 27 billion dollars and lots of Iranian business are developed in the UAE.Creating brand-new chances for transportation and banking cooperation is among the accomplishments of this commission, the official said.Referring to the performance of the UAE federal government in the field of financial investment, the official stated: The approval of the law on the development of foreign business and the governments support for companies that run in the field of new energies has developed an excellent chance for business with the UAE.The 3rd Iran-UAE Joint Economic Committee meeting was held in Abu Dhabi from April 30 till May 1.
Increasing non-oil exports to the neighboring nations is one of the major plans that the Iranian government has been pursuing in recent years.Iran shares land or water borders with 15 countries specifically UAE, Afghanistan, Armenia, Azerbaijan, Bahrain, Iraq, Kuwait, Kazakhstan, Oman, Pakistan, Qatar, Russia, Turkey, Turkmenistan, and Saudi Arabia.MA