Iran, UAE take steps to establish joint business council

TEHRAN – Iran and the United Arab Emirates have signed a memorandum of understanding (MOU) to establish a joint business council.

The MOU was signed on Tuesday at the presence of Iranian Foreign Minister Mohammad Javad Zarif and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan at the end of the 2nd Iran-UAE High Joint Economic Committee meeting in Abu Dhabi.
The meeting was attended by representatives of public and private sectors of the two countries.
Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan said relations between the UAE and Iran are rooted in history and founded on a solid foundation based on mutual respect and cooperation and this has provided the opportunity to maintain the security and stability of the region under the leadership of the two friendly nations, according to a statement published by the UAE state news agency WAM.
“No doubt that there is a chance for the private sector of both sides for mutual investment once obstacles put into force by the commitment of international decisions are removed, providing frameworks and agreements upon which the commission shall start work immediately, and this will not be only limited to the fields of energy, food and pharmaceutical industries, as there are wider fields we can utilize, for example, financial services and energy. There are many ways for interchanging experiences between our countries, such as in the manufacturing, infrastructure, health-care and other fields.”
“The task before us is a significant one. It requires the coordination of financial, economic and legal legislations to facilitate cooperation and further develop mutual relations, especially in the private sector.”
For his part, Foreign Minister Zarif stressed the importance of using all the capacities to cement bilateral ties.
He called for further increase in trade between the two countries.
Referring to some 200 flights each week between Iran and the UAE, Zarif said this signifies the importance of relations between the two nations.
In January, UAE Economy Minister Sultan Al Mansouri said Emirati businesses would invest in hospitality and transport projects in Iran if Western sanctions against the country were lifted.
“Iran is a very important country for us,” he said. “The final outcome for the negotiations that are taking place right now is very important, whether for the UAE, the region, or the world. Iran is an important trading partner, and it has been historically.
“If the issues are resolved, we will be the first country that will benefit. This is very natural. [We will gain] what has been lost over the past few years.”

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