Iran - UAE Trade Hits $34 Billion in 2022: Roads Minister

The total value of trade exchanges between Iran and the United Arab Emirates (UAE) reached $34 billion in 2022, Iran’s minister of roads and urban development said.

News ID: ۸۰۹۳۶۶

21 November 2023

Mehrdad Bazrpash made the remark while speaking in a meeting with UAE Ambassador to Tehran Saif Mohammed Al Zaabi late on Monday.

Iran’s minister of roads pointed out that Tehran and Abu Dhabi share cultural and religious commonalities and can play a leading role in the regional equations.

Speaking on the National Day of the United Arab Emirates (UAE), he stated that the relations between the two countries have developed especially in the last two years in all political, economic, trade and tourism fields and it is hoped that the amicable ties will further expand in the coming years.

Iran has paid special attention to the development of relations with neighbors, especially the United Arab Emirates, and is of the opinion that cooperation between the two countries, in addition to serving the national interests of the two countries, will bring about constructive effects for the stability and security of the regional countries, Bazrpash added.

The 3rd Iran-UAE Joint Economic Cooperation Commission meeting will be held in the coming weeks in line with the development of bilateral cooperation, he also noted.

Elsewhere in his remarks, the chairman of the Iran-UAE Joint Economic Cooperation Commission stated that according to the statistics of the Islamic Republic of Iran Customs Administration (IRICA), the United Arab Emirates was the third export destination of Iranian products.

He put the total value of trade exchanges between Tehran and Abu Dhabi in 2022 at $34 billion, stating that the two countries have the potential to further expand the level of trade in various fields. / Tasnim