Key UAE sectors wait on Iranian breakthrough |GulfNews.com:
"Key pillars of the UAE economy such as re-exports, logistics, retail, banking and insurance are already setting their schedules to a day in not-so-distant June. Because if negotiations give way to a deal being struck on Iran’s nuclear programme and thus ease the sanctions on it, these are the sectors in the UAE that could be in line for a major lift.
And potential deals involving UAE businesses could scale up quite quickly once sanctions are lifted, given the bottled up demand that the Iranian marketplace has been experiencing for years now. “Releasing assets that were erstwhile ‘frozen’ will translate into Iran having significant means to acquire goods, pay for services and conduct much needed investments [especially in energy infrastructure and communications],” said Karim Souaid, CEO of Growthgate, the asset management firm. “Concurrently US/EU businesses would become free to trade with Iran without fears of sanction thus increasing trade lanes in all directions.
“It is anticipated that businesses in the UAE — and especially in Dubai — would tremendously benefit in the short-to-medium term. Dubai has both the competitive and comparative advantages over any other location, where its physical and human infrastructures are uniquely positioned to benefit from the opening of such a prized market of circa 79 million people and an estimated 2015 GDP of $403 billion."
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