Iran, Saudi Arabia to hold Joint Economic Committee meeting soon
Date
9/24/2024 9:39:12 AM
(MENAFN) Iranian Oil Minister Mohsen Paknejad expressed optimism about the possibility of an upcoming Joint Economic Committee meeting between Iran and Saudi Arabia, according to a report by IRNA. Speaking at an event celebrating Saudi National Day on Monday, Paknejad, who heads the joint committee, conveyed his congratulations to the government and people of Saudi Arabia on behalf of the Iranian government. He highlighted the importance of strengthening ties between the two nations, particularly under the leadership of Iran's 14th government, led by Masoud Pezeshkian, which prioritizes improving relations with Saudi Arabia.
Paknejad emphasized that closer cooperation between Iran and Saudi Arabia, two major powers in the Persian Gulf region and West Asia, could foster greater stability, security, and prosperity for the people in the region. The development of these relations, he noted, is essential for ensuring peace and advancing the welfare of both nations' populations. This sentiment aligns with earlier efforts by Iran’s former Economy Minister, Ehsan Khandouzi, who held successful talks with his Saudi counterpart in May, marking a significant step in mending relations.
During his visit to Saudi Arabia, Khandouzi engaged in constructive discussions with Saudi Arabia’s Minister of Economy and Planning, Faisal F. Alibrahim. He reported that Saudi Arabia had agreed to all five of Iran’s proposals for economic cooperation, further emphasizing the importance of creating a roadmap for public and private sector collaboration. The talks were held during Khandouzi’s participation in the annual Islamic Development Bank (IsDB) meeting in Riyadh, reflecting a broader framework for economic dialogue between the two nations.
In recent months, Iran and Saudi Arabia have continued their political and economic consultations following their historic March 2023 agreement to resume diplomatic relations, brokered by China. Iranian Foreign Ministry Spokesperson Nasser Kan'ani confirmed that economic matters remain a priority in the ongoing discussions. Both countries have reopened their embassies and have since engaged in various levels of diplomacy, including a meeting in late April between Iran’s Consul General in Jeddah and the President of the Chamber of Commerce of Mecca, aimed at enhancing trade and economic cooperation. These developments signal a significant thaw in relations between the two regional powers.
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