Tehran, Abu Dhabi Agree to Strengthen Trade Relations

Officials from the United Arab Emirates and Iran have agreed to bolster economic ties and enhance cooperation in various sectors including tourism, transport, entrepreneurship and renewable energy.

News ID: ۸۴۰۱۵۰

03 May 2024

EghtesadOnline: The two countries held the first session of the Joint Economic Committee meeting in Abu Dhabi which was co-chaired by the UAE’s Minister of Economy Abdulla bin Touq and Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash.

The two neighbors have planned to boost economic cooperation in sectors including logistics, agriculture and environment, the UAE’s Ministry of Economy said in a statement on Thursday, state news agency Wam reported.

The UAE is continuing to strengthen trade and economic ties with countries across the world through the Comprehensive Economic Partnership Agreements (CEPA) that aim to mitigate or remove trade barriers.

The two countries also agreed to establish joint technical task forces to strengthen economic and trade interaction.

They also agreed to support the development of small and medium-sized enterprises (SMEs) and export their products to new markets, the statement added.

Earlier on Wednesday, Bazrpash had a meeting with vice president and deputy prime minister of the United Arab Emirates, Sheikh Mansour bin Zayed in Abu Dhabi to discuss UAE-Iran cooperation, particularly expanding bilateral trade. / Tasnim