Iran ranked 4th among United Arab Emirates trade partners this year.
IRNA cited a report by the UAE Customs Union as stating that last year Iran was 5th among countries doing trade with that country, but this year Iran has advanced to 4th place.
The report added that in the five month period since the beginning of 2010 trade between the two sides reached $3.7 billion.
According to official reports the trade level between Iran and the UAE in 2009 exceeded $8.44 billion.
The trade balance in the first five months of 2010 was $3.3 billion in favor of the UAE.
The trade balance in 2009 reached $6.8 billion in favor of the UAE.
Meanwhile, several trade sources in the UAE claimed that the international sanctions imposed on Iran have had a minimal impact on trade between the two countries.
Masoud Daneshmand head of the Iran-UAE Chamber of Commerce recently proclaimed that the growing trade trend in the past years between the two countries has continued.
He pointed out that trade between Iran and the UAE is based on the re-export of goods to regional markets, and predicted that trade relations between the two countries will expand.