Iran, Saudi Arabia Discuss Resuming Trade Ties

Officials from Iran's Trade Promotion Organization (TPOI) and representatives of a Saudi Arabian private sector met in Tehran to explore trade opportunities between the two sides.

News ID: ۸۰۹۸۸۷

23 November 2023

Mohammad Sadeq Qannadzadeh, a senior TPOI official, stressed the need for strategic planning to overcome trade obstacles between Tehran and Riyadh, emphasizing the resumption of relations after years of cessation.

Qannadzadeh highlighted an initial agreement with the Saudi ambassador in Tehran, aiming to gradually bolster mutual trade and economic ties. He mentioned plans for the inaugural meeting of the Iran-Saudi Joint Economic Commission in Tehran, with a subsequent meeting anticipated in Saudi Arabia, although specific dates were not provided.

The future stages involve reciprocal participation of trade delegations in exhibitions held within both countries, outlining the roadmap for advancing bilateral trade relations.

Iran and Saudi Arabia re-established diplomatic ties in March 2023 through a China-mediated agreement, marking a significant development after severing relations in 2016. / Tasnim