Iran calls for swift restoration of trade, economic ties with Saudi Arabia

The chairman of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has called for a swift restoration of trade and economic ties with Saudi Arabia and promotion of cooperation among merchants and manufacturers of the two countries’ private sectors.

In an official letter to the chairperson of the Council for Saudi Chambers of Commerce and Industry on Wednesday, Gholamhossein Shafei hailed the two countries’ decision to open a new chapter in bilateral ties, which had been cut off for seven years.

He expressed Iran’s private sector's readiness to exchange trade and economic delegations with Saudi Arabia, adding that holding joint trade fairs would play an effective role in bolstering bilateral economic cooperation.

“A visit by an economic delegation of Iran’s private sector to Saudi Arabia and the planning of the economic institutions of the two countries’ private sectors for the development of trade, commercial and industrial cooperation can considerably accelerate the realization of the will of the two countries’ authorities to normalize mutual relations,” Shafei wrote.

On March 10, after several days of intensive negotiations hosted by China, Iran and Saudi Arabia agreed to resume their diplomatic ties and reopen their embassies.

In a joint statement after signing the agreement, Tehran and Riyadh highlighted the need to respect each others’ national sovereignty and refrain from interfering in the internal affairs of one another.

Iran, Saudi FMs seek implementation of reconciliation deal to boost regional security

The top Iranian and Saudi diplomats underscore the need to implement a landmark China-brokered reconciliation agreement.

They agreed to implement a security cooperation agreement signed in April 2001 and another deal reached in May 1998 to boost economic, commercial, investment, technical, scientific, cultural, sports, and youth affairs cooperation.

To the dismay of the US and Israel, the detente has the potential to ease tensions across a region characterized by turbulence for decades, experts say.

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