DECEMBER 9, 2022
Iran News

Iran, UAE boost ties as joint commission meets for first time in 10 years

Iran, UAE boost ties as joint commission meets for first time in 10 years

Abu Dhabi is hosting the first meeting of the Iran–UAE Joint Economic Cooperation Commission in 10 years, Iranian media reported on 30 April. 

The sessions will be held over two days, from 30 April to 31 April, and aim to “develop cooperation between the two countries in all fields of economy, trade, investment and transportation,” Tasnim news agency reported on Tuesday. 

It is being co-chaired by Iranian Minister of Roads and Urban Development Mehrdad Bazrpash and UAE Economy Minister Abdulla bin Touq al-Marri.

According to Tasnim, the meeting agenda includes discussions on international transit, particularly the International North–South Transport Corridor (INSTC).

The session will also include discussions between economists and entrepreneurs from the private sectors of both countries. 

“A number of experts in the field of trade and investment will deliver lectures regarding the development of the business environment and rules governing investment opportunities,” Tasnim reported. 

Two agreements on expanding economic cooperation are expected to be signed throughout the meeting of the joint commission. 

Ties between the UAE and Iran have improved significantly in recent years, particularly in trade and economy. Improvement of ties surged specifically in the aftermath of the Iran–Saudi normalization deal in March 2023.

Iran imported $20.8 billion worth of goods from the UAE in the last fiscal year, which ended in March this year, according to the Iranian Customs body. The UAE was also Iran’s leading export destination during the same period. 

Last year, Iranian President Ebrahim Raisi sent an invitation letter to UAE President Mohamed bin Zayed (MbZ) to visit Iran. 

Despite warming ties over the years and a boost in cooperation between the two countries, Tehran and Abu Dhabi remain embroiled in a longstanding territorial dispute over three Persian Gulf islands, Greater Tunb, Lesser Tunb, and Abu Musa.

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