Page 884 - MOE ENGLISH PR - MAY 2024

5/10/24, 2:28 PM UAE and Iran Convene Inaugural Joint Economic Committee to Foster Collaboration in Emerging Sectors
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 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

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