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ABU DHABI / WAM
The first session of the Joint Economic Committee (JEC) between the UAE and the Islamic Republic of Iran was held in Abu Dhabi, chaired by Abdullah bin Touq Al Marri, Minister of Economy, and Mehrdad Bazrpash, Minister of Road and Urban Development of Iran.
The session, which was attended by several government officials from both sides, explored the strengthening of cooperation in many economic sectors of mutual interest. These include the new economy, tourism, transport, entrepreneurship, energy and renewable energy, SMEs, innovation, logistics, agriculture and environment. The meeting also discussed the means to support joint efforts needed to elevate bilateral economic relations to new heights. Bin Touq noted that the UAE-Iran economic partnership continues to grow across various fields, serving as one of the key pillars supporting the bilateral ties. The UAE is keen to expand the scope of the economic and trade cooperation with Iran to more areas of shared interest, he said.
He stated, “The convening of the first session of the UAE-Iran JEC reflects our shared aspirations to solidify existing economic ties and expand them to the future sectors. These efforts are in line with the UAE wise leadership’s vision to strengthen the country’s bilateral cooperation with global partners.”
Moreover, the Minister of Economy apprised the Iranian delegation of the economic developments witnessed by the UAE’s business environment over the recent years. Most notably, these include the amendments made to the Commercial Companies Law to allow 100 per cent foreign ownership, modernization of visa and residency systems and introduction of self-employment and green residency pathways to enhance the country’s attractiveness to talent, investors, employers and businesses.