Pandemic Almost Zeroed Iran’s Exports Revenues in UAE
IRAN NEWS ECONOMIC DESK
TEHRAN – Vice-Chairman of Iran and United Arab Emirates Joint Chamber of Commerce says Iran’s exports to the UAE have faced more restrictions in the past two months and there has been no export forex to return to the country.
Erfan Shakeri said yesterday that the outbreak of Coronavirus has crippled the bilateral trade between Iran and the UAE and closure of trade centers of the UAE has been effective in the fall of Iran’s exports to this country.
He further said most of goods which are imported to Iran from other countries are re-exported via Dubai but the outbreak of virus has restricted transportation in the UAE.
Shakeri added that currently trade activities have resumed in Dubai by observance of sanitary protocols but some problem which still exists inside Iran is that provision of forex is very difficult and allocation of the forex is done with restrictions and this will definitely affect the trend of Iran’s trade.
He admitted that sanctions have doubled the problem of the pandemic and in the past two months, Iran’s exports have been more under restrictions because of the virus and as the result, there is no forex resulted from exports to be used for imports of goods.
Shakeri further said that the problem for transfer of money and banking transaction is another issue which created woes for Iran’s trade, adding that the UAE accounts for ten percent of Iran’s non-oil exports as foods like oil derivatives, fruits, vegetables, carpet, pistachio and saffron are major goods which are exported to the UAE but the lockdown in the country for the COVID-19 pandemic, has deprived Iran from its forex revenues in the UAE.
Earlier this month, Chairman of Iran-UAE Joint Chamber of Commerce Farshid Farzanegan said that trade volume exchanged between Islamic Republic of Iran and the United Arab Emirates (UAE) in the first month of the current Iranian calendar year [from March 21 to April 19, 2020] has decreased at least 35 percent due to the outbreak of coronavirus pandemic.
He went on to say that spread of coronavirus, COVID-19, has played an important role in reducing direct consumption and disorder in supply chain of the United Arab Emirates especially Dubai.
He pointed to the way of transportation of cargo and added, “currently, UAE imports and exports products using wooden, metal ships as well as landing-craft vessels.”
