Bilateral trade between the United Arab Emirates (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, stated WAM.
Three new shipping lines were set up last August between the two states, establishing a channel that would operate between Bushehr in Iran and the neighboring Gulf states.
Iran-UAE business ties have been the least affected by the dispute over three islands in the Gulf captured by Iran in 1971 and claimed by both countries. — (menareport.com)
© 2002 Mena Report (www.menareport.com )