Page 89 - MOE ENGLISH PR - MAY 2024

Press Release

UAE and Iran hold first session of Joint Economic Committee to

promote cooperation in new economy sectors, tourism, transport,

entrepreneurship & renewable energy

Two sides to establish joint task forces to follow up on the implementation of
the Committee's outcomes

Abu Dhabi, 2 May 2024:

The first session of the Joint Economic Committee (JEC) between the UAE and the
Islamic Republic of Iran was held in Abu Dhabi, chaired by H.E. Abdulla bin Touq
al Marri, Minister of Economy, from the UAE side and H.E. Mehrdad Bazrpash,

Minister of Roads and Urban Development from the Iranian side.

The session, which was attended by several government officials from both sides,

explored the strengthening of cooperation in many economic sectors of mutual
interest. These include the new economy, tourism, transport, entrepreneurship,
energy and renewable energy, SMEs, innovation, logistics, agriculture and
environment. The meeting also discussed the means to support joint efforts needed

to elevate bilateral economic relations to new heights.

H.E. 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.

H.E. 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