Iran, Saudi Arabia to Establish Joint Chamber of Commerce

(MENAFN) Iran and Saudi Arabia are set to establish a joint chamber of commerce, according to a board member of the Iran Chamber of Commerce, Industries, Mines and Agriculture. Keyvan Kashefi stated that the private sector has started planning for economic interaction with Saudi Arabia, and soon, with the follow-up of the ICCIMA, a joint chamber of commerce between Iran and Saudi Arabia will be set up. This decision to normalize relations between the two countries is seen as a positive and constructive interaction by the private sector. Kashefi believes that this political decision will have positive effects on the country's economy and is a useful mechanism for advancing economic goals.

Iran and Saudi Arabia are two big and important countries in the region, and political and economic cooperation between the two is considered the basis for stability. With the establishment of a joint chamber of commerce, it is expected that economic ties will be strengthened between the two nations. According to Kashefi, there are many fields, including oil, gas, petrochemicals, and knowledge-based industries, for cooperation between the two countries, and these capacities should be utilized.

Kashefi also revealed plans to start the exchange of trade delegations immediately after the reopening of embassies and the deployment of ambassadors from both countries. This move will promote economic cooperation and help to advance the economic goals of both Iran and Saudi Arabia.

The talks between Iran and Saudi Arabia to resume diplomatic relations after years of hostility were brokered by China. Chinese President Xi Jinping has expressed his readiness to support a follow-up process between Saudi Arabia and Iran to restore diplomatic relations, according to the National. During a phone call with Saudi Crown Prince Mohammed bin Salman, Xi emphasized the importance of the strategic relations between the two countries and appreciated Chinese efforts to develop relations between Saudi Arabia and Iran.

The Iranian Foreign Minister, Hossein Amir Abdollahian, has stated that Iran also intends to invite the Saudi king to visit Iran, following King Salman bin Abdulaziz's invitation to Iranian President Ebrahim Raisi to visit Riyadh. The establishment of a joint chamber of commerce and the exchange of high-level visits between the two countries are seen as positive steps towards improving economic and political ties between Iran and Saudi Arabia, and promoting regional stability.

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