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UAE-Iran Business Council holds inaugural meeting in Tehran

The council will contribute to strengthening cooperation between both countries' business sectors

The UAE-Iran Business Council held its inaugural meeting in Tehran on the sidelines of the Iran Expo, which runs from May 7 to 10.

The UAE side was chaired by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry and President of the Abu Dhabi Chamber of Commerce and Industry. The Iranian side was chaired by Dr Mahdi Safari, Deputy Foreign Minister for Economic Diplomacy with the participation of a number of senior businesspeople from both sides.

In opening the meeting, Al Mazrouei commended efforts by the organising committees of both sides in establishing and activating the council, which will greatly contribute to strengthening cooperation between both countries' business sectors.

He said that the establishment of the UAE-Iran Business Council comes at a time when bilateral relations are witnessing economic growth and provides notable opportunities for the private and public sectors in both countries to enhance flourishing trade, investment and economic ties.

He added: "The UAE is confident that the Business Council will serve as a vital platform to further enhance partnerships between the UAE and Iran's business sectors."

Al Mazrouei also stressed that the launch of the UAE-Iran Business Council "embodies the joint keenness of both sides to enhance and elevate economic and trade cooperation between the two countries to new horizons while widening engagement for the Emirati and Iranian business communities".

He explained that UAE-Iran economic relations have experienced significant development and continued growth in various fields, pointing out that economic cooperation in these sectors has contributed to increasing joint trade and investment exchange.

For his part, Dr Safari expressed his appreciation for the attendance of the UAE side and coordination in holding the council's inaugural meeting in Tehran, which represents an additional step towards bolstering economic relations between the two countries. He also stressed that the meeting contributes to fostering an environment for consultation, discussion, and the exchange of views on issues that serve the two countries' business communities.

The UAE economic delegation, which includes representatives of various entities, held a series of meetings with officials from diverse Iranian economic institutions and sectors.

The UAE-Iran Business Council was established in accordance with the Memorandum of Understanding signed between the Federation of UAE Chambers of Commerce and Industry and the Iran Chamber of Commerce, Industries, Mines and Agriculture in 2014. It aims to explore avenues for mutually beneficial economic opportunities between the two sides in a range of fields, including food, health, and tourism. The Council also serves as a platform for senior business leaders in both the UAE and Iran to facilitate exchange and business partnerships.