Iran opened a hybrid trade center in Dubai, UAE on Monday.
Head of Trade Promotion Organization of Iran (TPO) Alireza Peimanpak, Iran’s caretaker consul in Dubai, some senior members of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) and a number of Iranian and UAE businesspersons were present in the opening ceremony of the Iranian trade center in Dubai.
The trade center, which is the first Iranian hybrid trade center, is aimed to study the UAE market, remove export hurdles, and coordinate meetings between businesspersons and science-based companies.
Hybrid trade centers combine a live in-person event with a virtual online component.
Speaking during the opening ceremony the Iranian caretaker consul in Dubai said that the volume of trade between Iran and the UAE fell from $14 billion in 2014 to $6 billion over the past one year and a half.
He however noted that bilateral trade between the two countries neared the $14 billion record of 2014 in the past few months and is expected to exceed $20 billion by the yearend and $30 billion within the next years.
In the meantime the head of Iran Trade Center in UAE Mohammad Reza Talaei said that it took more than one year of studying for the establishment of the trade center and it also took nearly two years for Iran to introduce 1,000 top Iranian brands and establish a club of Iranian business leaders.