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Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash met with UAE Vice President Sheikh Mansour bin Zayed Al Nahyan on the sidelines of the 17th Annual Middle East Railway Exhibition and Conference in Abu Dhabi.
During the meeting, the two sides highlighted the development of relations between different transport sectors, MRUD NEWS reported on Monday.
Bazrpash noted that Iran is seeking to expand relations with the UAE and welcomes investment in transport projects, calling for the resumption of the Iran-UAE Economic Council after a long hiatus.
Al Nahyan welcomed Iranian ministers and delegations to the UAE, noting Iran’s strategic location, especially along the international North-South transport corridor.
As the chairman of the Iran-UAE Economic Council, Bazpash attended the “Middle East Railway” at the invitation of Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure of the UAE.
The visit marks a new beginning of commercial and shipping deals between Iran and the UAE after Iran resumed political relations with other Persian Gulf countries.
More than 10 transport ministers from the region spoke at the largest and most prestigious transport event in the Middle East, North Africa and South Asia. It is a platform for regional negotiations, especially between Iran and the UAE, especially regarding investments in the ports and railway sectors.
The restoration of political relations between Iran and the UAE has facilitated the expansion of transport links between the two neighboring countries.
Middle East Railway, the region’s leading rail innovation, technology and strategy event, will be held at the National Exhibition Center in Abu Dhabi, UAE on 15-16 May 2023.
A top Iranian transport official visited the UAE on Monday. The visit comes amid a rapprochement between Iran and Saudi Arabia and marks the strengthening of the UAE’s relationship with Iran.
While in Abu Dhabi, Bazrpash also met Mazrouei. According to Iran’s semi-official Tasnim news agency, the purpose of the meeting was to boost bilateral trade between the two countries.
The Iranian Chamber of Commerce reported on Monday that the two countries were discussing establishing a “direct container route” between Iran’s southern Iranian port of Bushehr and Dubai’s Jebel Ali port. The purpose of the line is to reduce the transit time between the two countries.
Iran-UAE Business Council launched
The UAE Ministry of Foreign Affairs and International Cooperation announced on its website that the Iran-UAE Business Council held its first meeting during the Iran World Expo in Tehran, the capital of Iran, from May 7 to 10.
The UAE side was chaired by Abdullah Mohammad Mazrouai, Chairman of the UAE Chamber of Commerce and Industry and Chairman of the Abu Dhabi Chamber of Commerce and Industry. The Iranian delegation was headed by Deputy Foreign Minister Mehdi Safari, who is in charge of economic diplomacy. Many senior business people from both sides attended the event.
In his inaugural speech, Mazrouai praised the efforts made by the organizing committees of the two sides to establish and launch the council, which will greatly promote the cooperation between the business circles of the two countries.
He said the establishment of the UAE-Iran Business Council comes at a time when bilateral relations are witnessing economic growth, presenting a significant opportunity for the private and public sectors of both countries to strengthen prosperous trade, investment and economic ties.
“The UAE believes that the Business Council will be an important platform to further strengthen the partnership between the UAE and Iranian business sectors,”
Mazrouet said.
“The establishment of the UAE-Iran Business Council reflects the mutual desire to strengthen and elevate the economic and trade cooperation between the two countries to a new level, while expanding the participation of the UAE and Iranian business communities.”
The UAE minister explained that the economic relations between the UAE and Iran have achieved considerable development and continued growth in various fields, noting that economic cooperation in these areas has increased joint trade and investment exchanges.
Safari appreciated the presence of the UAE side and its coordination of holding the first meeting of the Council in Tehran, which is another step towards strengthening bilateral economic relations. He also stressed that the meeting is conducive to creating an environment for consultation, discussion and exchange of views on issues serving the business communities of both countries.
The UAE economic delegation, which included representatives of various entities, held a series of meetings with officials from various Iranian economic agencies and ministries.
The UAE-Iran Business Council was established under a Memorandum of Understanding signed in 2014 between the Federation of UAE Chambers of Commerce and Industry and the Iranian Chamber of Commerce, Industry, Mining and Agriculture. It aims to explore mutually beneficial avenues for economic opportunities for both parties in a range of sectors including food, health and tourism. The council also provides a platform for senior business leaders from the UAE and Iran to facilitate exchange of views and business partnerships.
major trading partners
The UAE is Iran’s largest exporter, with merchandise sales to Iran amounting to $18.39 billion in 2022-23, an 11 percent increase from the previous year.
The Arab country is also a major destination for Iranian exports. It ranks fourth in the list of Iran’s top export destinations for the fiscal year 2022-23, with imports of $5.76 billion, an increase of 28%.
Iran recently stated that it has appointed an ambassador to the United Arab Emirates for the first time since 2016 in response to the adjustment of relations between the Persian Gulf countries and Iran.
The move comes after the UAE upgraded relations in August 2022 and said it would return its ambassador to Tehran, according to Reuters.
The UAE downgraded ties with Iran after Saudi Arabia severed ties with Iran in January 2016 after Iranian protesters stormed the Saudi embassy in Tehran following the execution of a prominent Shia cleric in Riyadh.
The UAE’s commercial and trade ties with Iran date back more than a century, and in 2019 began re-engaging with Tehran.
The Emirate of Dubai in the United Arab Emirates has long been one of Iran’s main points of contact with the outside world.
Iranian state media said Iran’s newly appointed ambassador, Reza Ameri, had previously served as director of the Foreign Ministry’s Office of Iranian Diaspora.
At a time when the global situation is seriously tense, good news has come from the Persian Gulf region recently. Under the mediation of China, Saudi Arabia and Iran have reached a bilateral agreement. According to Gulf News, Ali Shamkhani, secretary of Iran’s Supreme National Security Council, then visited the UAE, and the head of the Iranian parliamentary delegation held talks with senior Bahraini officials.
Statements by officials from Persian Gulf Arab states and Iran underscored the importance of economic, trade and investment cooperation in ongoing rounds of talks between the two sides.
Regarding the Saudi-Iran deal, UAE National Security Adviser Sheikh Tahnoun bin Zayed Al Nahyan said, “The deal is a constructive contribution to expanding peace, stability and sustainable security in the region.” effect.”
Sheikh Tahnoun noted that “the development of friendly and brotherly relations between Abu Dhabi and Tehran is one of the UAE’s priorities.”
Shamkhani stressed that “cooperation and reconciliation must replace differences and enmity.”
The composition of the delegation to the talks, which included the governor of the Central Bank of Iran, indicated that economic and investment issues took center stage in the talks.
Iran’s first trade center licensed by the Iran Trade Promotion Organization will be inaugurated in Dubai in 2021.
As reported by the Iranian Chamber of Commerce, Industry, Mining and Agriculture, the linkages are aimed at helping Iranian companies find a foothold in the UAE, especially Dubai, which happens to be one of the main hubs for Iranian trade in the region.
It also seeks to use advanced information technology to create a platform to facilitate the business activities of Iranian companies in the UAE market by providing technical advice and advisory services.
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