The meeting which will focus on issues of mutual interests in investment and trade relations between the two counties will be held with the participation of the Iranian ambassador to the UAE Mohammad Ali Hadi. Iran trade center was inaugurated in Dubai last week in the presence of Iranian Commerce Minister Mohammad Shariatmadari and UAE's Economic and Planning Minister Sheikha Lubna Al Qassemi. The official reports indicate the bilateral trade stood at $7 billion in 2004. Shariatmadari said that the center should have a significant impact on growing investment and trade ties between the two nations. The center's aims are in line with the goals of Iran Development Exports Organization (IDEO) to boost Iran's non-oil exports. Iran has constantly ranked as important re-export partner with other Persian Gulf emirates including Dubai and Sharjah in the recent years. Abu Dhabi's re-exports to Iran stood to $10 million in the first three months of the year. UAE Minister of Economy and Planning said increase in contacts between Iranian and United Arab Emirates (UAE) businessmen are important for mutual trade. Al Qassemi said cordial ties between the two nations is a desirable goal of the states. The presence of Iranian exporters at the International Trade Center in Dubai is indicative of Iran's good quality products, the UAE's economy minister added. She also said that the bilateral ties in all areas, notably investments and trade, are cordial and expressed hope that the center will facilitate the expansion of relations between the two Persian Gulf nations. -------------Iranian bank in Dubai ranks third in profitability A banking official said here Saturday that Iran banks have held their own among the 26 international banking institutions operating in Dubai. Vice-president of Bank of 'Saderat' for Persian Gulf Operations Hadi Borhani, speaking at gathering of investors and traders in Dubai, said that based on figures released by UAE Central Bank, the Saderat Bank ranked third in terms of profitability among the foreign-based banks in the country in 2004 with a 277.4 million Dirhams of revenues. "The figure is 29.6 percent higher compared to the same period last year," he added. Based on the volume of total capital, Saderat with 616.6 million Dirham was ranked second after the British banking giant HSBC, the banking official added. Many of domestic factories raise the needed funds for obtaining raw material and machinery form the Saderat's loans and facilities. The bank has over eight branches scattered in the UAE and along with 'Melli' Bank of Iran are the two Iranian banks operating in the country, he said. Iran is one of the most important partners of Abu Dhabi in terms of re-exports. The value of re-exports to Iran stood at $70 million in 2004 which puts Iran as the fourth largest of Abu Dhabi's re-exports partners. China, with $114 million, Saudi with $101 million and Qatar with $72 million worth of re-exports st PIN/IRNA