DUBAI (Reuters) – An uncommon joint UAE-Iranian financial fee can be held in Abu Dhabi from Tuesday to Wednesday as Tehran seeks to strengthen financial ties with Gulf states amid mounting U.S. stress. The Iranian Labor News Agency reported.
The assembly of the Bilateral Joint Economic Cooperation Committee was the primary in 10 years and was attended by Iranian Minister of Roads and Urban Development Mehdi Bazurpash and Emirati Minister of Economy Abdullah bin Tuk Al Marri.
The UAE has maintained diplomatic ties with Iran since Riyadh lower ties with Tehran in 2016 following the assault on the Saudi embassy within the Islamic Republic by hardline protesters over Riyadh’s execution of a outstanding Shiite cleric. was downgraded.
The UAE started re-engaging with Tehran in 2019 after years of animosity on numerous sides of the geopolitical battle.
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As a consequence, diplomatic relations between Iran and the UAE had been strengthened final yr. The United Arab Emirates and Tehran have enterprise and commerce ties courting again greater than 100 years, and the Emirate of Dubai has lengthy been certainly one of Iran’s predominant hyperlinks with the surface world.
Ministers are anticipated to primarily focus on cooperation on worldwide commerce corridors, whereas personal sector representatives are anticipated to debate commerce and funding.
Iran imported $20.8 billion of products from the UAE within the final fiscal yr ending March 2024, making the latter its largest supply of imports, based on the nation’s customs workplace. During the identical interval, the UAE was Iran’s third largest export vacation spot, with $6.6 billion price of products exported.
(This article has been resubmitted to right title of Iranian minister in second paragraph)
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