Iran's Exports to UAE Rise Near $1b in Three Months

EghtesadOnline: Iran exported around 3.8 million tons of commodities worth $967 million to the UAE during the first quarter of the current fiscal year (March 20-June 20), according to the director general of Trade Promotion Organization of Iran's Arab-African Affairs Office.

News ID: ۷۵۰۵۳۲

26 July 2020

“The figures indicate a 39% and 8% growth in terms of tonnage and value respectively compared with the corresponding period of last year,” Farzad Piltan also told Mehr News Agency.

Watermelon with $19 million and tomato with $18.47 million topped the list of Iran’s exports to the Persian Gulf Arab country during the three-month period under review.

Piltan noted that the growth in exports comes despite obstacles to bilateral trade caused by unilateral US sanctions and challenges posed by the new coronavirus pandemic.

According to Iran’s Ports and Maritime Organization, the two countries resumed bilateral marine trade early June after a three-month hiatus due to the pandemic.

Bilateral Trade at $12b p.a.

Piltan said trade between Iran and the UAE hovers around $12 billion per year.

The UAE was the fourth biggest destination of Iranian exports in the fiscal 2019-20, as the Arab country imported $4.5 billion worth of commodities to the Islamic Republic during the period.

The UAE was the second biggest exporter to Iran (after China) in the same year, as the Arab country exported $8.9 billion worth of goods to the Islamic Republic in the fiscal 2019-20.

“Since the UAE enjoys a special status among Iran's trade partners as well as cultural and social commonalities, economic relations with it should be consolidated,” says Farshid Farzanegan, the head of Iran-UAE Chamber of Commerce.

Referring to financial and cultural measures for boosting ties with the UAE in various fields, he said the UAE has good markets for Iranian products, especially agrifood products.

Condemning enemies' plots to harm the two countries' relations, he said the UAE consistently needs Iran's agricultural and food products, and Iran should meet it with suitable price and quality.

Meanwhile, the Emirates Airline resumed its direct flights to Iran earlier this month.

Emirates landed its Boeing-777 at Tehran's Imam Khomeini International Airport on Friday, July 17.

A Covid-19 PCR test is needed for boarding the flight, said an official with IKIA, adding that passengers are required to provide a certificate confirming they have tested negative for Covid-19 not earlier than 96 hours before their flight.

Earlier, a direct route between the southern Iranian city of Shiraz and the Emirati city of Sharjah resumed on July 3 after a four-month hiatus due to the new coronavirus pandemic.