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FINANCIAL NEWS
Dubai’s non-oil trade with Iran fell 12 pct in H1
15 Sep 2013
(MenaFn) Dubai’s non-oil trade with Iran fell 12 percent the first 6 months of 2013, an indication that the Western sanctions still cause damages on the Iranian economy, according to Arabian Business.
Dubai has been a major commercial center for the Iranian economy as it exports many goods to the Islamic republic.
This system faced problems after the financial sanctions in the US which was imposed in 2011 over Iran’s nuclear program, a reason behind the business cut between Dubai and many other countries around the world.
Dubai Customs authority said that trade between Dubai and Iran, excluding oil, dropped to USD2.9 billion during the first six months of the current year.
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