Iran to form joint chamber of commerce with Saudi Arabia

Keyvan Kashefi noted that the move will mark a fruitful step toward furthering the economic goals of Tehran and Riyadh.

Kashefi described the rapprochement between Iran and Saudi Arabia as the most important political and economic development in Iran over the past month.

He said the private sector of Iran will welcome the constructive interaction, adding that the political decision will have positive implications for the Iranian economy.

Kashefi voiced hope that such interactions will continue with other foreign countries.

The member of Iran chamber of commerce said the return of calm to the financial markets, including currency and gold, and stability in those markets counts as a positive result of the normalization of relations between Iran and Saudi Arabia.

He noted this shows how correct political decisions can affect a nation’s economy.

While stressing that Iran and Saudi Arabia are two big and important countries in the region, Kashefi said political and economic cooperation between Tehran and Riyadh paves the way for regional stability.

He reiterated that Iran and Saudi Arabia plan to start the exchange of business delegations immediately after the reopening of their embassies.

Kashefi went on to describe Saudi Arabia as a big economy whose capacity has not been used as it should, saying Saudi Arabia’s trade balance capacity of 300 billion dollars can yield Iran in the coming years a market worth at least 2 to 3 billion dollars.