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Iran top official reveals an economic agreement with UAE 

March 20, 2023 at 8:17 pm

General Ali Shamkhani the secretary of the Supreme National Security Council of Iran photographed in its headquarters on December 17, 2014 in Tehran, Iran [Kaveh Kazemi/Getty Images]

Secretary of the Iranian Supreme National Security Council, Ali Shamkhani, announced on Monday that his country has concluded an agreement with the United Arab Emirates (UAE) to facilitate trade movement between the two countries using the Emirati currency, the dirham.

In statements upon his return to Tehran, Shamkhani said the trips to China and the UAE achieved important results and, therefore, it was decided that this process should continue with the trip to Iraq.

“New mechanisms have been identified, around which an agreement was reached with Iraq, regarding the collection of Iranian sums due for the purchase of basic goods and solving the foreign exchange problems for Iranian businessmen,” he added.

The Iranian top official said the step would improve the currency market in Iran, in addition to the agreements concluded with the UAE authorities.

READ: Rapprochement with Saudi, UAE led to a improved forex market

He described the security cooperation agreement between national security officials in Iraq and Iran as “very important”, explaining that by signing this multidimensional agreement, the two countries will try, according to a specific plan, to eliminate “anti-revolutionary groups” that target Iran from the Kurdistan region.

Iran has repeatedly launched strikes on the Kurdistan region of Iraq against sites it says belong to “separatist and terrorist groups”, while Baghdad denies harbouring any groups that threaten neighbouring countries.

Shamkhani has recently visited China, the UAE and Iraq, respectively, during which he succeeded in resuming diplomatic ties with Saudi Arabia, in addition to signing economic agreements with the UAE and Iraq.