The head of the Association of Iranian Traders and Investors in the UAE, Abdul Qader Fakihi, said that the association had received promises from the ruler of Dubai, Mohammed bin Rashid Al Maktoum, to solve the problems of Iranian traders as soon as possible, and this came after negotiations with UAE officials.
Fakihi said he would re-issue commercial visas to Iranian investors and stop the closure of bank accounts of the Iranians, with the suspension of the policy of canceling their residency in the UAE, adding that bank accounts will open to investors and traders despite the sanctions imposed.
He pointed to the opening of commercial and economic space between Iran and the UAE, following a period in which the economic relationship of the two countries declined significantly.
The United Arab Emirates (UAE) commander, Mesbah al-Ahbabi, met with the commander of the Iranian border guards Brigadier Qassim Rezaei a few days ago. The UAE side spoke of the need for continuous coordination between Iran and the UAE to ensure the safety of navigation in the region.
The British Financial Times reported at the end of last month that US sanctions on Tehran had affected Iran's trade with the UAE and had particularly undermined the status of Dubai as a traditional hub for Iran-related businesses.
The newspaper quoted a senior UAE official as saying that his country expects to record a sharp decline in trade with Iran in the first half of this year, because of the sanctions imposed on Tehran.