UAE Ambassador Reveals Plans for Investment in Iran's Cooperative Sector

According to SAEDNEWS, During a meeting with the UAE envoy to Tehran, Bahman Abdollahi, Chairman of the Iran Chamber of Cooperatives, highlighted the significant role of cooperatives in Iran's economic landscape. He stressed that the cooperative sector plays a vital part in the country's production activities.

Abdollahi elaborated on the strengths and capabilities of Iran’s cooperative sector, noting its substantial contribution to agricultural production. He expressed the Chamber's commitment to facilitating the export of cooperative products to the Persian Gulf region, with a particular focus on the United Arab Emirates (UAE). He revealed that approximately 65 percent of Iran's agricultural products are generated by cooperatives.

In his remarks, Abdollahi also pointed out that the cooperative sector possesses considerable potential in various other economic fields, including petrochemicals, industry, fisheries, and tourism. He referenced the International Co-operative Alliance (ICA), of which Iran’s Chamber of Cooperatives is a board member, emphasizing the alliance's global reach with over 110 members representing a population of more than 1.2 billion people.

The UAE envoy to Iran, Mohammed al-Zaabi, acknowledged that trade relations between Iran and the UAE have seen significant growth and are continuing to expand. He mentioned that there are over 122,000 Iranian entrepreneurs actively engaged in business within the UAE.

However, he also noted that sanctions imposed on Iran have created challenges in strengthening trade and economic ties between the two nations. Despite these limitations, the envoy underscored the vast potential for both countries to enhance their collaboration across various sectors, particularly in trade and economic relations.