UAE to maintain strong medical device trade with Iran

The country is also expected to expand trade with the GCC and the Middle East.

The United Arab Emirates (UAE) is expected to sustain a medical device trade relationship with Iran despite recent US sanctions, according to BMI.

On February 4, US President Donald Trump signed an executive order titled ‘Restoring Maximum Pressure on Iran’. The impact of the order on medical device trade remains unclear, but past sanctions have seen the UAE facilitate re-exports to Iran.

The UAE is also expected to expand its medical device trade with the Gulf Cooperation Council (GCC) and Middle Eastern markets.

Currently, three GCC countries and two other Middle Eastern nations rank amongst the UAE’s top five medical device export destinations.

“Close geographic proximity means that trade costs can be relatively low, providing an advantage over imports from locations such as India or Mainland China,” the report said.