The flags of the United Arab Emirates and Iran are pictured during a national event at the Iranian Pavilion of Expo 2020, in the Gulf Emirate of Dubai on February 7, 2022. (AFP)

During a meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, Iranian Parliament Speaker Mohammad Bagher Ghalibaf expressed that both Iran and the UAE have the opportunity to become global economic hubs, which can occur through their bilateral cooperation and membership in the BRICS.

The Iranian Tasnim news agency quoted Ghalibaf as saying, "We intend to make a confident step into the future in all directions and develop the economies of the two countries in all areas. Thanks to the geographical location of the two countries, we can become the largest economic center in the world, and this opportunity exists between the two countries through bilateral relations and membership in BRICS."

He stated earlier that the trip to the UAE aimed to discuss bilateral ties with several officials in different areas, particularly about cooperation in the Gulf region.

Tehran is currently working as of June on developing special economic zones with Saudi Arabia and the United Arab Emirates, noting that memorandums of understanding have already been signed with Iraq, Syria, and Oman.

At the Johannesburg, South Africa BRICS summit in August, a decision was declared to invite Argentina, Egypt, Iran, Ethiopia, the UAE, and Saudi Arabia to become full members of the bloc from January 1, 2024.

Warming up ties

Just this year, back in April, Iran appointed an ambassador to the United Arab Emirates for the first time in eight years after ice-cold ties between the two nations.

Shortly after, Secretary of the Supreme National Security Council of Iran Ali Shamkhani visited the UAE and met with Al Nahyan.

Shamkhani also met with the ruler of the Emirate of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, who said the UAE's principled policy is based on not allowing a third country to stir up a division or use the UAE's geography against Iran.