Iran, Saudi Arabia to open joint chamber of commerce soon: business leader

Iran and Saudi Arabia will open a joint chamber of commerce soon, an Iranian business leader revealed on Monday.

A view of the Saudi Arabian embassy building in Tehran, Iran, March 11, 2023. /CFP

Keyvan Kashefi, a member of the presiding board of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), said during a meeting that ICCIMA is following up on the launch of the joint chamber of commerce.

Iran plans to begin the exchange of business delegations with Saudi Arabia immediately after the reopening of the embassies in the two countries and the reinstatement of their ambassadors, he added.

Kashefi said the normalization of ties between Tehran and Riyadh has been Iran's main political and economic issue over the past 30 days, adding Iran's private sector welcomed the "constructive and positive" interaction with Saudi Arabia and had started to plan for more economic cooperation.

Kashefi noted that Iran and Saudi Arabia have great potential for cooperation in the oil, gas, petrochemical and technological sectors.

Iran and Saudi Arabia decided to resume diplomatic relations on March 10 in talks brokered by China and announced to reopen embassies and missions within two months.

The two sides severed ties in 2016 in response to the attacks on Saudi diplomatic missions in Iran after the kingdom executed a Shiite cleric.

(With input from Xinhua)