TEHRAN (Iran News) – Chairman of Iran-UAE Joint Chamber of Commerce Farshid Farzanegan believes that Iran’s market potentials link with the facilities of the countries like the UAE can increase its regional exports.

Farzanegan says Iran should continue its strategic relation with the UAE, and come out of passiveness, adding that the country should not pave the ground for the presence of rivals in the scene of the UAE market and it should strengthen and consolidate its position in the UAE market and increase its trade.

He then pointed to the trade volume of Iran and the UAE, saying that it is a considerable figure as the UAE was Iran’s second trade partner last year and this year and in the first three quarters, Iran’s exports to the UAE have been $3.3b while its imports from this Arab state have hit $6.3, and their total trade volume has stood $9.6, making the UAE the second trade partner of Iran after China.

Farzanegan went on to say that Iran and the UAE have always had considerable economic relations and despite the coronavirus pandemic and its effects on the trade of countries, Iran and the UAE trade has enhanced and this rise has not been significant but it shows their trade has found its way.

On the halt for issuing visa for Iranians by the UAE, he said although strictness against Iranian traders is on the rise but it is expected by taking appropriate stands by both countries, the trade ties would become better in the future.

Farzanegan further said that since the UAE is considered as the trade hub of the region, in case Iran’s market potentials join this hub, its regional exports will surge, adding that in the condition that countries like Qatar, Oman, Saudi Arabia, and the UAE have taken steps for normalizing their ties, this is possible that better condition would dominate the regional trade.

He added that the UAE has its most trade with Saudi Arabia and therefore, the more Iran improves its ties with its neighboring countries like the UAE, the more it can have access to the market of Saudi Arabia which is the biggest market in the southern part of the Persian Gulf and access to the North African markets via the UAE will be possible for Iran.

On replacing the UAE with other Persian Gulf states as a solution for Iranian traders, he said Iran’s total exports to other countries of the Persian Gulf hardly touch $1b while Iran’s exports to the UAE last year stood at $4.5 and this year the figure has increased in terms of volume and value.

Farzanegan noted that EXPO 221 in the UAE will be the best opportunity for Iran to ease and boos relations with this country in order to expand trade exchanges with this state.