MAJOR: Iran, UAE Officially Establishing Closer Trade Ties

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TEHRAN/ABU DHABI – A senior Iranian official expressed pleasure that trade and political relations between his country and the UAE are improving. Chairman of Iran and United Arab Emirates (UAE)’s Joint Chamber of Commerce Farshid Farzanegan said on Wednesday that “in the current situation, the economic and political relations are improving”.

Farzanegan described peace and security in the region as critical factors for economic development, adding that the United Arab Emirates also knows that the country’s progress depends on peace in the Persian Gulf. The tensions in the Persian Gulf will slow down their own economic progress, he added.

He further asserted that there is a significant number of economic agents in the UAE, especially in Dubai, many of whom are interested in working with Iran. The chairman of Iran-UAE chamber of commerce further said that the Iranian Foreign Ministry and the Trade Promotion Organization (TPO) have put increasing relations with the neighboring countries atop their agendas, stressing that the Iran-UAE chamber of commerce and the private sector need to help those two bodies to expand the countries’ trade ties.

Farzanegan underlined that Dubai’s economy depends on trade relations with Iran, adding that both sides are eager to continue and expand bilateral trade ties. Iran has always attached great importance to strengthening ties with the Middle Eastern countries in a bid to maintain security in the region.

A maritime security delegation from the UAE arrived in Tehran on July 30 to resume bilateral coast guard meetings between Iran and the Arab country after a 6-year hiatus, in a bid to increase joint efforts on enhancing maritime security in the Persian Gulf region.

A seven-member delegation from the UAE coast guard arrived in Tehran to attend the 6th joint coast guard meeting which was held in line with the plans to boost maritime security cooperation between the two Persian Gulf littoral states.

During the meeting, the two sides discussed issues of mutual interest, including shared borders, nationals’ commutes, and illegal traffics, as well as ways for facilitating the maritime connections between the two countries.

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