The economic and commercial relations between the United Arab Emirates (UAE) and Iraq have improved remarkably over the past several years. The value of bilateral exchanges hit five billion Emirati Dirhams ($1.3 billion) last year, reported Al-Quds Al-Arabi . Emirates sources predict this trade value to increase to seven billion Emirati Dirhams ($1.9 billion) in 2002. The same sources attributed this growth to the Emirati-Iraqi free trade agreement signed in October 2001 that lifted all customs restrictions on bilateral imports and exports. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
