Iran-UAE Trade Drops by 35% Due to Coronavirus Pandemic
IRAN NEWS ECONOMIC DESK
TEHRAN – Chairman of Iran-UAE Joint Chamber of Commerce Farshid Farzanegan says the outbreak of the Coronavirus has affected the trade between Iran and the UAE as the trade has plunged by 35 percent.
In an interview with IRNA, he said the outbreak of the virus has decreased direct consumption and has disrupted the provision chain in the UAE and especially in Dubai.
On transportation of goods to the UAE, he said currently Emirati launches are in charge of transporting foodstuff and fish into the UAE but soon Iranian launches will get licenses for carrying foodstuff to the UAE.
Farzanegan expressed hope that talks between officials of both countries would ease the commute of Iranian traders to the UAE, especially those who are UAE residents.
He added that the private sector expects the foreign ministry to solve this problem and currently only few Iranian airliners are in charge of taking Iranians back to the country.
Asked whether any change in the trade volume of both countries is expected, he said in the long term and due to potentials of both states and measures taken by related officials, the bilateral trade volume would boost.
He reiterated the UAE is far better than other states in the Persian Gulf in terms of economic infrastructure, transportation and the IT.
Farzanegan stated that it is necessary to prioritize economic relation with this advanced country because the UAE can be a gateway for exports of Iranian goods to East Asian states like China, India North Africa and Latin America and this has a key role for surge in production in the year of surge in production.
He said Iran should develop its infrastructural industries, adding that infrastructures of the UAE is ten years more ahead of countries like Oman and Qatar and the private sector should help for deepening economic trade between Iran and the UAE.
Farzanegan said currently fruits, vegetables and foodstuff are major items being traded between Iran and the UAE.
He said the foodstuff trade of Dubai has stood at $3b in the first quarter of 2020, adding that agro products and foodstuff are priorities of the UAE.
He urged Iranian private sector activists to take advantage of the current condition and the UAE’s market.
He noted that the trade between Iran and Dubai in the first month of the current year Farvardin (March 20-April 19) declined by 35 percent because of the outbreak of COVID-19.
