UAE-Iran Business Council set to enhance, elevate economic ties
- 07 May 2023
The UAE-Iran Business Council held its inaugural meeting in the Iranian capital Tehran on the sidelines of the Iran Expo, which runs from 7th to 10th May.
The UAE side was chaired by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry and President of the Abu Dhabi Chamber of Commerce and Industry. The Iranian side was chaired by Dr Mahdi Safari, Deputy Foreign Minister for Economic Diplomacy ,with the participation of a number of senior businesspeople from both sides.
In opening the meeting, Al Mazrouei commended efforts by the organising committees of both sides in establishing and activating the Council, which will greatly contribute to strengthening cooperation between both countries’ business sectors.
He said that the establishment of the UAE-Iran Business Council comes at a time when bilateral relations are witnessing economic growth and provides notable opportunities for the private and public sectors in both countries to enhance flourishing trade, investment and economic ties.
He added, “The UAE is confident that the Business Council will serve as a vital platform to further enhance partnerships between the UAE and Iran’s business sectors.”
Al Mazrouei also stressed that the launch of the UAE-Iran Business Council “embodies the joint keenness of both sides to enhance and elevate economic and trade cooperation between the two countries to new horizons while widening engagement for the Emirati and Iranian business communities.”
He explained that UAE-Iran economic relations have experienced significant development and continued growth in various fields, pointing out that economic cooperation in these sectors has contributed to increasing joint trade and investment exchange.
For his part, Dr. Safari expressed his appreciation for the attendance of the UAE side and coordination in holding the Council’s inaugural meeting in Tehran, which represents an additional step towards bolstering economic relations between the two countries. He also stressed that the meeting contributes to fostering an environment for consultation, discussion, and the exchange of views on issues that serve the two countries’ business communities.
The UAE economic delegation, which includes representatives of various entities, held a series of meetings with officials from diverse Iranian economic institutions and sectors.
The UAE-Iran Business Council was established in accordance with the Memorandum of Understanding signed between the Federation of UAE Chambers of Commerce and Industry and the Iran Chamber of Commerce, Industries, Mines and Agriculture in 2014. It aims to explore avenues for mutually beneficial economic opportunities between the two sides in a range of fields, including food, health, and tourism. The Council also serves as a platform for senior business leaders in both the UAE and Iran to facilitate exchange and business partnerships.
Meanwhile, the Dubai Electricity and Water Authority (DEWA) unveiled its first line-up of international keynote speakers, researchers and specialists participating in the specialist technical sessions and panel discussions to be held during the first Middle East and North Africa Solar Conference 2023, organised by DEWA from 15th to 18th November, 2023. The conference is the first scientific and technical conference of its kind in the region, specialising in solar energy systems.
It focuses on all areas of photovoltaics with a rich programme on PV materials and devices, future technologies, PV reliability and forecasting for performance assessment. Areas extend to system operations, concentrated solar power and grid integration, all of which are key in accelerating the green energy transformation.”Thanks to the wise directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we have made great strides in creating a sustainable future towards achieving the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100 percent of Dubai’s total power production capacity from clean energy sources by 2050. DEWA is working to consolidate its position as one of the leading and distinguished utilities worldwide.
This is by attracting the most prominent international researchers and specialists in futuristic and vital sectors, and refining Emirati competencies, to develop innovative solutions and experiences that enhance our active contribution to the clean and renewable energy sector worldwide,” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.”We have pioneering initiatives and projects to diversify clean energy sources.
These include multiple clean and renewable energy sources and technologies such as PV panels, CSP, green hydrogen production using solar power, and pumped-storage water technology using clean energy in Hatta. We have also implemented projects and initiatives to increase energy efficiency,” Al Tayer stated.”We have remarkable achievements in the investment and development of solar energy projects. Clean energy production capacity in Dubai has reached 2,327 megawatts (MW) using photovoltaic and CSP technologies at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, which is about 15.7 percent of Dubai’s energy mix. Our Research and Development Centre supports our efforts to harness Fourth Industrial Revolution technologies.
