Monday 4 July 2011

Iran sanctions leave Dubai out in the cold - The National

Traders and economists say the actions being taken against Iran, a key UAE market, are hitting business hard in Dubai. Antonie Robertson/The National)

Traders and economists say the actions being taken against Iran, a key UAE market, are hitting business hard in Dubai. Antonie Robertson/The National)

    Tightening global sanctions against Iran are threatening the UAE's links with one of its biggest export markets and risk choking its economic growth.

    "This is a serious issue. Any negative impact [on trade] will have an impact on the economy of Dubai," says Mohamed Lahouel, the chief economist of the Dubai Department of Economic Development.

    Traders say they are struggling to secure finance for even the most basic exports such as timber and foodstuffs that are not listed as sanctioned goods.


    Posted by at

    No comments:

    Post a Comment

    Subscribe to: Post Comments (Atom)