Trade between Iran, UAE at 35% decline due to COVID-19 outbreak
According To Iran News, Chairman of Iran-UAE Joint Chamber of Commerce Farshid Farzanegan said on Wed. 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.”
Presently, UAE’s launches are transporting foodstuff and fish cargoes, etc. but Iranian launches will be licensed for transporting foodstuff to the United Arab Emirates soon, he emphasized.
Elsewhere in his remarks, Farzanegan pointed to the travel restriction of Iranian traders and merchants to this Arab country and added, “it is hoped that effective measures will be taken after the holy month of Ramadan in this regard. Travel of Iranian traders and holders of residency permit in the United Arab Emirates will be normalized with the cooperation and consultation of officials at the Ministry of Foreign Affairs.”
Iranian private sector expects country’s Ministry of Foreign Affairs to take effective steps in line with settling problems facing ahead, he stressed.
It is predicted that trade exchange volume between Iran and UAE will increase in the long term, he said, adding, “with the adoption of new policies in cooperation with the responsible bodies [including Ministry of Foreign Affairs, Ministry of Industry, Trade Promotion Organization of Iran (TPOI), Iran-UAE Joint Chamber of Commerce] as well as taking advantage of potentials of region, bilateral trade volume will certainly be increased.”