Official: Iran, UAE to Promote Bilateral Trade Using FTA

Date: 20 May 2023 - 22:51

News ID: ۱۱۵۲۳۱

TEHRAN – Chairman of Iran-UAE Joint Chamber of Commerce Erfan Shakeri said on Saturday that Iran and the United Arab Emirates have high capabilities to enhance their trade using a Free Trade Agreement (FTA) and bartering of goods.
The existence of common economic interests between Iran and the UAE will help expand trade and economic activities and in the meantime, an FTA, tax exemptions and bartering of goods can boost trade between the two countries, he said.
Speaking in an interview with IRNA on Saturday, Shakeri noted that expert-level talks have been made with senior officials and private sector activists of the United Arab Emirates for making investments within the framework of a joint venture.
Tehran and Abu Dhabi enjoy high capacities and potentials to expand their cooperation in trade, production and investment fields, he said, adding that the private sector is seeking to pave the way for developing relations in various economic fields.
Turning to the $40 billion value of trade exchanges between the two countries over the past years, he stated that signing trade and economic agreements can help boost mutual trade significantly.
Elsewhere in his remarks, the chairman of the Iran-UAE Joint Chamber of Commerce pointed out that if agreements are signed between the two countries in various economic fields, the way will be paved for spurring export and investment.