Iran no longer UAE’s top trade partner

UAE-Trade-310x233Dubai: Trade between Dubai and Iran has been halved by international sanctions.

“The trade between UAE and Iran has dropped by 54 per cent last year as a result of the sanctions imposed on Iran,” said Hamad Bu Amim, Director General of the Dubai Chamber and Industry.

Moreover, the political tension in Syria has resulted in 50 per cent drop in trade between the two countries as well.

However, Bu Amim pointed out that the trade between Libya and Iraq recovered well, growing 300 per cent and 360 per cent respectively.

“In addition to this, trade relation with Egypt witnessed a positive growth up to 34 per cent last year while it is doubled with Turkey and recorded 60 per cent growth with Ethiopia,” he said.

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