Iran Press/ Iran News: Iran and Saudi Arabia resumed their diplomatic relations after 7 years due to the visit of the Iranian Foreign Minister to Beijing last week and meeting with his Saudi counterpart, Faisal bin Farhan.
The Minister of Economy and Finance, Ehsan Khandouzi, explained the economic plans in the agenda with Saudi Arabia in a press conference on Tuesday and in response to the question of an Iran Press reporter.
Khandouzi said: According to the will of the two countries, economic programs are on the agenda along with political and security cooperation.
Pointing out that the programs of the joint economic commission of the two countries will be announced soon, Khandozi added: I will travel to Jeddah in late May in order to develop economic programs with Saudi Arabia.
Joint commerce chamber with S. Arabia on Iran's agenda
Iran's Minister of Finance says that the establishment of a joint commerce chamber with Saudi Arabia is on the agenda of the ministry.
In his weekly conference on Tuesday, Ehsan Khandouzi told reporters that the Iranian Organization of Trade Development is seeking to finalize the economic roadmap between Tehran and Riyadh.
Khandouzi said that in the first step, the relations are planned to be revived with up to $1 billion.
He noted that in recent years, Iran experienced even zero trade interactions with Saudi Arabia.
"In 2022, we had exports of about $15 million to Saudi Arabia, yet considering the two countries' will to resume the economic ties, we hope we could reach the determined trade objectives."
He told reporters that he would have a visit to Riyadh in late April.
During the negotiations between Iran and Saudi Arabia in Beijing, the two countries agreed on Friday, March 10, to resume diplomatic relations after 7 years.
Saudi Arabia cut diplomatic ties with Iran in 2016 in the wake of the Saudi execution of a Shiite cleric, along with 46 other Shia dissidents. Since April 2021, Tehran and Riyadh have been engaged in negotiations facilitated by Iraq and Oman to patch up their ties. These talks culminated in the Chinese-brokered deal.
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