Page 866 - MOE ENGLISH PR - MAY 2024

5/10/24, 2:26 PM UAE and Iran hold meet to promote cooperation in new economy sectors - GulfToday
agriculture and environment. The meeting also discussed the means to support
joint efforts needed to elevate bilateral economic relations to new heights.

ADVERTISING

Bin Touq noted that the UAE-Iran economic partnership continues to grow
across various fields, serving as one of the key pillars supporting the bilateral
ties. The UAE is keen to expand the scope of the economic and trade
cooperation with Iran to more areas of shared interest, he said.

He stated: “The convening of the first session of the UAE-Iran JEC reflects our
shared aspirations to solidify existing economic ties and expand them to the
future sectors. These efforts are in line with the UAE wise leadership’s vision to
strengthen the country’s bilateral cooperation with global partners.”

Moreover, the Minister of Economy apprised the Iranian delegation of the
economic developments witnessed by the UAE’s business environment over
the recent years. Most notably, these include the amendments made to the
Commercial Companies Law to allow 100 per cent foreign ownership,
modernization of visa and residency systems and 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
favorable 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.

https://www.gulftoday.ae/business/2024/05/02/uae-and-iran-hold-meet-to-promote-cooperation-in-new-economy-sectors 2/4