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TEHRAN – During the first two months of the current Iranian calendar year (March 21-May 21), Iran exported US$749.331 million worth of of non-oil commodities. IRICA) announced.
Mohammad Rezvani-Far said the UAE was Iran’s fourth-largest export destination for non-oil commodities during the two-month period.
The official further announced that in the first two months of this year, the UAE exported $2.313 billion worth of non-oil commodities to Iran, making it Iran’s second largest source of imports.
Iran and the United Arab Emirates have agreed to sign a new Memorandum of Understanding (MOU) on avoiding double taxation and promoting mutual investment.
The decision was taken during a meeting between Iran’s Minister of Finance and Economic Affairs Ehsan Khandouzi and the UAE’s Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini on the sidelines of the annual meeting of the Executive Board of the Islamic Development Bank (IsDB) in Jeddah in mid-May.
During the meeting, officials emphasized the strengthening of cooperation in the field of trade and foreign investment; in this regard, it was decided to take appropriate measures as soon as possible in order to sign agreements among countries to promote foreign investment and avoid double taxation.
Referring to the positive impact of the revival of relations between the Islamic Republic of Iran and Saudi Arabia in the region, Hosseini said that trade between the two countries has increased by about 40 times.
“The trade volume in various fields shows that relations and interactions between Iran and the UAE are growing naturally and positively. The role of the two governments is to encourage trade and facilitate it through agreements to avoid double taxation, and it is necessary to revise the relationship between the two countries. existing agreements,” he said.
Khandouzi referred to previous unfinished talks between the two sides on drafting a foreign investment agreement, saying: “The Islamic Republic of Iran is ready to cooperate on mutually profitable projects, as well as investment cooperation in other countries.”
At the conclusion of this meeting, Khandouzi invited his Emirati counterpart to go to Tehran as soon as possible.
On May 9, the head of the United Arab Emirates Federation of Chambers of Commerce and Industry said that the UAE is seeking to become Iran’s largest trading partner in the region.
Abdullah Mohammad Mazrouei, who visited Iran as the head of a business delegation, made the above remarks while meeting with the President of the Iranian Chamber of Commerce, Industry, Mining and Agriculture (ICCIMA) Ghulam-Hossein Shafiyah in Tehran speak.
During the meeting, the two sides exchanged views on areas of common cooperation between the two countries, economic relations and how to expand business relations between the Iranian and UAE private sectors.
Shafee pointed out that the UAE is one of Iran’s most important neighbors and has a deep historical relationship. “The UAE is Iran’s second largest trading partner in the world after China. Our annual trade volume has reached about 24 billion. USD. Despite past constraints and political issues that have cast a heavy shadow over economic relations, the UAE has always maintained a good position in relations with Iran, which have failed to have a profound impact on our commercial relations.”
Back in early January, the director-general of the Ports and Maritime Department of Bushehr province announced that Iran had opened a direct container route from the port of Bushehr in the southwest of the country to the Jebel Ali port in the United Arab Emirates.
Mohammad Shakibi-Nasab said the opening of the above-mentioned route will boost economic exchanges between the two countries.
He further pointed out that with the new line in operation, the cost of transporting export goods for traders on both sides has also been reduced.
Meanwhile, the head of Iran’s Ports and Maritime Organization (PMO) met with the UAE ambassador to Tehran, during which the two sides emphasized the acceleration of bilateral port, maritime and transit cooperation.
During the meeting, UAE Ambassador Saif Mohammed Obaid Jassim Al Zabi highlighted the capabilities of Emirati companies in port and maritime investments in neighboring countries, especially Iran, and announced that Emirati experts will be presenting in the near future Site visits to Iranian ports.
The Arab official also referred to his country’s very good transport and transit infrastructure, and welcomed Iran’s approach to developing transit cooperation with CIS countries.
Al Zaabi stressed the need to expand economic relations between Tehran and Abu Dhabi, expressing the trust and interest of the UAE government in developing port and maritime cooperation with Iran.
Ali-Akbar Safaei, head of the PMO, highlighted the Iranian government’s strategy to develop economic cooperation and good relations with neighboring countries, saying that the development of maritime relations between Iran and the United Arab Emirates is very important for the Islamic Republic.
Safai said that Iran is ready to develop maritime, transit and port relations with Abu Dhabi, he stressed: “Transit and port connections between Tehran and Abu Dhabi and Central Asian countries and other countries can be quickly formed and developed. Prosper quickly.”
The official also welcomed any investment by UAE Ports and Shipping Company in southern Iranian ports, especially Shahid Rajaei Port and Chabahar Port.
“The Chabahar port has very good capacity and the private sector in the United Arab Emirates can sign long-term investment contracts in the Chabahar port,” he said.
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