Jeddah (IP) - The Minister of Economic Affairs and Finance of the Islamic Republic of Iran announced the agreement between Tehran and Riyadh to sign an investment, customs, and trade deal between Iran and Saudi Arabia.

Iran PressMiddle East: Ehsan Khandouzi arrived at Jeddah Airport on Thursday to participate in the annual meeting of the Islamic Development Bank (IsDB).

On the sidelines of the 2023 annual meeting of the Islamic Development Bank in Jeddah, Khandouzi met with Saudi Arabia's Finance Minister Mohammed Al-Jadaan.

According to Shada, Saudi Arabia's finance minister expressed hope that he would soon meet the Minister of Economic Affairs and Finance of Iran in Riyadh.

In the meeting, Iran's Finance Minister also welcomed the boosting of economic relations between the two countries and stated that the development of relations is not only important for Iran and Saudi Arabia but also for all countries.

"These bilateral relations are not only important economically but also in political and security fields," Khandouzi added.

The minister called for the facilitation of Hajj rituals and trade between the two countries, especially in removing banking and currency barriers, as well as expanding flights.

The Minister of Economy emphasized investing in oil fields as well as using the capacity of knowledge-based products and companies.

In the meeting, the Saudi minister, while agreeing to cooperate in customs, trade, and investment areas, hoped that with the assistance of the Ministries of Road, Oil, and Hajj, cooperation-related issues will be pursued.

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