TEHRAN- The United Arab Emirates’ Minister of Economy Sultan bin Saeed Al Mansouri was invited by Iranian Finance and Economic Affairs Minister Ali Tayyebnia to lead a UAE delegation to Iran to discuss trade and economic relations.

The invitation was made by Iran’s Ambassador to the UAE Mohammad-Reza Fayyaz in a meeting with Al Mansouri in Abu Dhabi to explore ways for expansion of economic ties between the two countries, the Tasnim News Agency reported on Sunday.

Al Mansouri noted Iran comes fourth in terms of the relative importance for the UAE’s foreign trade, with non-oil trade between the two countries amounting to $17 billion in 2014.

The UAE minister also said that 200 flights a week are being operated between the two countries to boost tourism and enhance cooperation between their business communities.

The UAE was the 3rd biggest importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, according to the Iran Customs Administration.

Iran exported $3.931 billion of non-oil goods to the UAE and imported $12.163 billion of non-oil goods from the country.

On April 14, Bloomberg reported that the most immediate beneficiaries, in case anti-Iran sanctions are lifted, will be banks and developers in Dubai. 

Iran and the P5+1 group of countries have agreed to finalize a comprehensive deal on Tehran’s nuclear program by the end of June. 

MA/