Tehran, Riyadh officially begin boosting trade relations: Industry minister

Pointing to the recent agreement between Iran and Saudi Arabia on the restoration of diplomatic ties, the Iranian industry minister announced the beginning of trade interaction between the two countries after the thaw in relations.

Speaking in an interview with IRNA on Tuesday, Seyyed Reza Fatemi Amin referred to the rapprochement between Iran and Saudi Arabia after seven years, adding that the export of Iranian products to the kingdom has been put atop agenda.

With the start of trade activities between Iran and Saudi Arabia, officials at Iran’s Ministry of Industry, Mine and Trade have initiated the process of exporting products to Saudi Arabia, the minister added.

On April 6, Iranian Foreign Minister Hossein Amir-Abdollahian and his Saudi counterpart Faisal bin Farhan met in Beijing to discuss bilateral ties and the issues of mutual interest.

On April 14, the Iranian minister of economic affairs and finance said Tehran eyes $1 billion in annual trade with Saudi Arabia after the thaw in relations between the two countries.

ME