Unlocking Economic Growth: UAE and Iran’s Joint Committee Meetings to Enhance Trade Cooperation

The first session of the Joint Economic Committee meetings between the United Arab Emirates and the Islamic Republic of Iran was held with the aim of enhancing cooperation in various economic sectors. Both sides agreed to form technical working teams to follow up on the committee’s outputs and discuss new mechanisms to support increased trade exchanges, provide ways to support exporters and importers, and advance bilateral economic relations.

Chaired by Abdullah bin Touq Al Marri, Minister of Economy for the UAE, and Mehrdad Badrbash, Minister of Roads and City Building for Iran, the committee meetings focused on areas such as entrepreneurship, small and medium enterprises, innovation, logistics, agriculture, renewable energy, transportation, energy, tourism, and the environment. Both countries expressed their commitment to pushing economic ties to new levels of growth and prosperity.

During the meeting, Bin Touq highlighted key economic developments in the UAE including allowing 100% foreign ownership in commercial companies, modernizing visa and residency systems and launching initiatives to support sustainable growth. Technical working teams will be formed to implement these outputs and enhance economic and trade cooperation in the future.

The UAE and Iran also discussed enhancing cooperation in sectors like tourism trade energy industry research development financial markets. Both sides emphasized collaboration investments in various sectors are necessary for fostering mutual growth prosperity. The committee meetings signify mutual interest in advancing joint economic ties strengthening economic relations between two countries.