Meeting between Iranian and Saudi Economic Ministers focuses on Customs and Investment Collaboration

Iranian Economy and Finance Minister Ehsan Khandozi met with Saudi Finance Minister Muhammad al-Jadaan on the sidelines of an Islamic Development Bank conference in Jeddah on Saturday.

During the meeting, Minister Khandozi pointed to the lack of a basic agreement between Iran and Saudi Arabia at the government level in the field of investment, customs and trade, noting the need to develop and sign tripartite memorandums of cooperation between the two sides. in this respect.

Khandozi also called for a meeting with the participation of Iranian and Saudi private sector companies within the next 3 months to explore trade and investment opportunities and determine the basis for cooperation, stressing the need for immediate cooperation in the field of facilitating the Hajj and trade between the two countries, especially in the field of eliminating banking and currency barriers and increase in the number of flights.

He noted investments in the oil sector and the use of Iranian knowledge companies’ products.

And the Minister of Finance of Saudi Arabia, Mohammed al-Jadaan, according to the Fars news agency, expressed hope for quick steps in relations with Iran.

Al-Jadaan emphasized the need to overcome economic and trade obstacles in this way, pointing to great opportunities for cooperation between Iran and Saudi Arabia.

He also expressed hope for an early meeting with the Minister of Economy and Finance of Iran in Riyadh, emphasizing the Saudi side’s agreement to cooperate in the field of customs, trade and investment with Iran, as well as the fact that the Saudi ministries of roads, oil and Hajj will raise and work out issues joint cooperation.

He believed that economic relations between the two countries require the establishment of a broad system, including the definition of a transparency mechanism in banking relations and the use of various approaches to obtain trade cooperation, hoping to identify and intensify the common ground of bilateral cooperation through the exchange of technical delegations between the two countries.

Source: “Faris”

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