United Arab Emirates (UAE) trade with Iran, a major re-export market reached 9.7 billion Emirati dirhams ($2.6 billion) in 2002, reported the Dubai Chamber of Commerce and Industry suggesting.
Re-exporting grew in popularity as Iranian companies and consumers realized that Dubai's proximity made it an ideal marketplace for consumer electronics and similar products. Often, it's faster and more reliable to ship goods to Dubai for re-export rather than try to sell directly to countries like Iran. However, tough import regulations and high taxes remain barriers to entry to the Iranian market.
Bilateral trade between the UAE and Iran increased by 25 percent to 5.11 billion Emirati dirhams (three billion dollars) in 2001 against Dh 4.7 billion in 2000. Three new shipping lines were set up last year between the two states, establishing a channel that would operate between Bushehr in Iran and the neighboring Gulf states. — (menareport.com)
© 2003 Mena Report (www.menareport.com )