TEHRAN- The value of non-oil trade between Iran and Saudi Arabia stood at $25 million in the past Iranian calendar year 1403 (ended on March 20), the Islamic Republic of Iran Customs Administration (IRICA) reported.The IRICA put the volume of annual no-oil trade between the two countries at 61,000 tons.IRICA reported that Saudi Arabia recorded the highest growth rate in trade with Iran among its neighbors during the previous year.According to Ruhollah Latifi, spokesperson for the Trade Development Committee of the House of Industry, Mining, and Trade, with the increase in political interactions between Iran and Saudi Arabia, commercial relations have also been accompanied by changes.Speaking at a celebration held on the occasion of the Saudi National Day in last September, Iranian Oil Minister Mohsen Paknejad expressed hope that the Joint Economic Committee meeting of Iran and Saudi Arabia would be held in the near future.Paknejad said: As the head of the joint economic committee of the two countries, I am very pleased to congratulate National Day to the government and the dear people of Saudi Arabia on behalf of the government of the Islamic Republic of Iran.The 14th government, headed by Masoud Pezeshkian, pays special attention to the development of relations with Saudi Arabia, and believes that the cooperation between Iran and Saudi Arabia as two important countries in the Persian Gulf region and West Asia, can bring stability and security to the countries in the region, and ensure the development and improvement of the welfare of the people of these countries, he stressed.In last May, Irans former Economy Minister Ehsan Khandouzi said he had held favorable talks with his Saudi Arabian counterpart during his visit to the Arab country.In a post on his social media, Khandouzi said he had constructive talks with the Minister of Economy and Planning of Saudi Arabia Faisal F.
Alibrahim."Faisal F.
Alibrahim agreed with Iran's all five proposals," the Iranian minister underlined.He said that the Saudi minister also emphasized the need for developing a roadmap for economic cooperation in the public-private sector.An Iranian delegation headed by Khandouzi visited Riyadh to participate in an annual Islamic Development Bank (IsDB) meeting.Iran and Saudi Arabia signed a China-brokered deal in March 2023 to resume their diplomatic relations after they cut them in 2016.The two sides reopened their respective embassies a few months later.MA.
This article first appeared/also appeared in Tehran Times