Page 90 - MOE ENGLISH PR - MAY 2024

Press Release

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.

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.

-Ends-

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