TEHRAN – The leader of the Iran-UAE Joint Chamber of Commerce has expressed dissatisfaction with the Central Bank of Iran (CBI) over considerable delays in the allocation of foreign currency, identifying this issue as the main barrier to trade between the two nations, particularly for essential and perishable products.
During his remarks at the Iran Expo 2025, he highlighted that trade between Iran and the United Arab Emirates had previously exceeded $27 billion annually, pointing out the significant potential for revitalizing economic relations between the neighboring countries. “Despite fluctuations over the years, trade between the two nations has continued,” he stated.
He emphasized that Iranian businessmen, particularly from the private sector, have shown a persistent eagerness to enhance trade with the UAE. “Should the conditions for domestic investment and foreign exchange policies improve, we could see a notable increase in bilateral trade,” he noted.
He further asserted, against common perceptions, that sanctions are not the primary hindrance. “Trade operations with the UAE continue even in the face of sanctions,” he remarked. “The true issue lies within the internal policies of the Central Bank.”
The chamber president explained that currency allocation delays have occasionally exceeded 120 days, causing significant disruptions, especially in the trade of perishable goods. “Such delays are intolerable when dealing with essential items,” he cautioned.
Agricultural exports to the UAE face particular risks. “Any delays in customs processing or currency availability can lead to spoilage,” he indicated, noting that these inefficiencies not only damage Iranian exporters but also undermine foreign buyers’ confidence in Iran’s trade systems.
He concluded by stating that ongoing delays in foreign currency allocation are reducing market supply while demand remains consistent or even increases. “This discrepancy is a direct contributor to inflation. If policymakers wish to manage prices and stabilize markets, they must prioritize an urgent reform of the currency allocation system,” he urged.