Page 864 - MOE ENGLISH PR

Page 864 - MOE ENGLISH PR - MAY 2024

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5/10/24, 2:26 PM UAE, Iran hold first session of Joint Economic Committee
introduction of self-employment and green residency pathways to enhance the country’s
attractiveness to talent, investors, employers and businesses. He also reviewed the

promulgation and introduction of new federal laws, including those concerning family

businesses, commercial agencies, cooperatives and trade through modern technical
means. These economic developments ensure a favourable climate for various business

models, thus promoting sustainable growth of the UAE economy. Apart from these, the
launch of initiatives designed to support the national economy’s transition to a circular

model, most notably the ‘UAE Circular Economy Policy 2031’, were highlighted.

The inaugural UAE-Iran JEC session also discussed new mechanisms to enhance trade
exchanges and the key role played by the private sector in promoting economic

cooperation. The provision of all means of support to exporters and importers to facilitate
trade exchanges and the diversification of these goods and services; and the opening of

new communication channels between the two private sectors also formed part of the

discussions.

The two sides agreed to establish joint technical task forces to follow up on the

implementation of the Committee's outputs, which outline economic and trade

cooperation in the immediate future. The JEC also agreed to provide various programs
and facilities to promote the growth of SMEs and support their exports in entering new

markets.

Furthermore, the two sides explored the strengthening of cooperation and investment in
sectors and activities related to tourism, trade, traditional energy, renewable energy and

industry, R&D, institutional innovation, the exchange of knowledge in financial markets,
entrepreneurship, agriculture and aviation.