TEHRAN (Iran News) –Head of Investment and Consultancy Center of Tehran Chamber of Commerce, Industry, Mine and Agriculture (TCCIMA) in an interview explained the capacities for economic cooperation between Iran and Saudi Arabia and called for the launch of the Iran-Saudi Arabia Joint Chamber of Commerce.
Ferial Mostofi first pointed to the progress in talks between Iran and Saudi Arabia in recent years and said that Saudi Arabia’s annual GDP was $824b in 2021 which was almost 2.3 times of Iran’s GDP which both countries GDP was very close in 2009. She added other international economic statistics show that Saudi Arabia has acted much better comparing to Iran in macro economy in recent decade.
She then pointed to the UNCTAD’s report and said that Saudi Arabia has attracted $19.3b of direct foreign investment in 2021 while according to this report Iran attracted only $1.4b while Saudi Arabia had $23.9b of direct investment in other countries in 2021.
Mostofi went on to say that Riyadh has planned its 2023 Outlook and has mobilized its resources and policies to materialize it. She reiterated that Saudis for their ambitious plans seek direct foreign investment in growing fields like infrastructures, tourism, entertainments. And renewable energies and the country wants to turn into the transportation and logistics hub for connecting Asia, Europe and Africa.
She emphasized that Iranian companies have good capabilities in some fields and massive cooperation of Iranians in those projects can be taken into consideration and for this reason she proposes the launch of the Iran-Saudi Arabia Joint Chamber of Commerce.
She reiterated that Saudi Arabia may face some hurdles in materializing the 2023 Outlook plan as this country faces shortage of required human capital in developing modern technology and industrial education.
Mostofi then pointed to the progress in talks between Iran and Saudi Arabia and also the general agreement between the two countries for economic, technical, scientific, cultural and sport co-operations which was signed in 1979 between the two states and called it a good ground for broadening economic cooperation.
She added that both countries can put on agenda the talks for deepening investment cooperation and bilateral investment treaty.
She then pointed to the vast cooperation between China and Saudi Arabia in different fields like economic and reiterated that Iran should take advantage of these international capacity for its development immediately after removal of sanctions.
Mostofi also emphasized using Saudi Arabia’s capacity in the field of investment as well as the launch of a think-tank in this field, adding that Tehran Chamber of Commerce, Industry, Mine and Agriculture (TCCIMA) is working on it and it will soon announce the result.
