Dec 24, 2019, 4:19 PM
Journalist ID: 2078
News Code: 83606973
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Iran, UAE to bolster a secured economic cooperation

Tehran, Dec 24, IRNA- Mutual interests of Iran and the United Arab Emirates (UAE) have resulted to continuation of bilateral relations between the two Persian Gulf regional countries. 

 Iran’s ties with the UAE after its independence in 1971 from Britain surged and now their trade ties reach some $20bn.

There are also many Iranian universities, cultural and business organisations in the Persian Gulf country. 

After the US reimposed its coercive economic pressure on Iran in August 2018, the UAE provided a breathing room for Iran due to its more lenient trade regulations with regards to Iran. 

According to Iran's Customs Administration (IRICA) data, the overall annual non-oil trade volume between Iran and the UAE stands at $16,83 bn. 

Also, there are up to 500,000 Iranians who live in the UAE, most of whom are merchants and economic operators, based on statistics of Iran Foreign Ministry. 

There are four Iranian universities in the UAE with 30,000 Iranian students. 

Iran is the second export destination of UAE products after China and 18% of Iranian imports are carried out through the southern Persian Gulf country. 

There are 8,000 Iranian businesses and businessmen with capital of over $ 200 m. 

The UAE needs to keep its maritime trade in good shape, that’s why Abu Dhabi should also take care of its relations with Iran in the Persian Gulf and avoid any tensions in the region. Interestingly enough, their bilateral ties have not broken despite the recent tensions. 

The UAE didn’t break its relations with Iran in early 2016 although Saudi Arabia, Sudan and Bahrain did so. 

Overall, the Persian Gulf state has tried to keep good ties with Iran, avoiding any tensions.

Recently, a delegation of UAE coastguards visited Iran in a bid to hold talks with senior Iranian officials at a time when tensions were rising in the Persian Gulf region. 

The UAE’s strong ties with Iran will also benefit the country as it will bolster its deterrence power. 

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