Page 904 - MOE ENGLISH PR - MAY 2024

5/10/24, 2:29 PM PRESSR: UAE and Iran hold first session of Joint Economic Committee to promote cooperation in new economy sectors, tourism, …
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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