Iranian official: Our trade relations with the UAE are growing and the political atmosphere is improving

An Iranian official said that trade relations between his country and the UAE are growing, a development supported by indicators that emerged recently amid talk of a shift in Abu Dhabi policy towards Tehran, amid efforts to contain tension in the region.

In remarks carried by Fars News Agency on Thursday, the head of the Iran-UAE Joint Chamber of Commerce, Farshid Farzangan, said the UAE is aware that its prosperity depends on stability in the Gulf region.

He added that in light of the presence of a significant number of Iranian businessmen in the UAE, especially Dubai, and their influential role in this country, there is a desire to establish cooperation with Iran, stressing in the meantime that the prevailing political atmosphere between the two countries is moving towards improvement.

The Iranian official pointed out that there are 6,000 Iranian companies and eight thousand Iranian traders in Dubai, and that 600,000 Iranians reside in the emirate out of 3.5 million inhabitants.

Speaking about the growing trade relations between the two countries, Farzangan pointed out that the UAE authorities are in the process of facilitating the issuance of visas, registration of companies and banking transactions.

A few days ago, the head of the Association of Iranian Traders and Investors in the UAE, Abdul Qader Faqihi, said the association had received promises from Dubai ruler Mohammed bin Rashid Al Maktoum to solve the problems of Iranian traders as soon as possible, and that came after negotiations with UAE officials.

Fakihi said that he would issue commercial visas to Iranian investors and stop the closure of bank accounts for Iranians, while stopping the policy of canceling their residency in the UAE, adding that bank accounts would be opened to investors and traders despite the sanctions.

He pointed to the opening of the trade and economic space between Iran and the UAE, after a stage in which the economic relations of the two countries declined significantly.

The UAE has shifted its link to Iran after a rupture that lasted for years, where the UAE Coast Guard Commander Brigadier General Mesbah Al-Ahbabi recently met with the Commander of the Iranian Border Guards Brigadier General Qasem Rezaei.The UAE side spoke of the need for continued coordination between Iran and the UAE to ensure the safety of navigation in the region.