TEHRAN – A large business delegation from the United Arab Emirates arrived in Tehran on Saturday to explore economic development opportunities in Iran.
The delegation is comprised of officials of the chambers of commerce of the seven emirates of the UAE as well as businessmen active in the oil, gas, banking, food, and automotive industries of the Persian Gulf state, according to the official website of the Tehran Chamber of Commerce, Industries, and Mines.
Abu Dhabi Chamber of Commerce and Industry Chairman Mohamed Thani Murshed Al Rumaithi is the head of the delegation.
The UAE was the third biggest trading partner of Iran in the previous Iranian calendar year, which ended on March 20, 2014.
Iran exported $353 million worth of goods to the UAE and imported $1.59 billion worth of goods from its southern neighbor, the Iranian Customs Administration reported.
On April 16, Iran and the UAE signed a memorandum of understanding to establish a joint business council.
In January, UAE Economy Minister Sultan Al Mansouri said Emirati businesses would invest in hospitality and transport projects in Iran if the Western sanctions against the country were lifted.
“Iran is a very important country for us,” he added. “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.”