TEHRAN (Iran News) –Ferial Mostofi, Head of Investment and Consultancy Center of Tehran Chamber of Commerce, Industry, Mine and Agriculture (TCCIMA) says soon the chamber will dispatch a trade delegation to Saudi Arabia for reinforcing economic relation.
TCCIMA hosted a seminar on economic cooperation of Iran and Saudi Arabia and the outlook of the private sector where Mostofi said that diplomatic co-ordinations are underway, adding that Saudi Arabia’s economy is state-run like Iran but it is trying to reduce its dependence on oil sales and to improve the share of the private sector in its economy.
Pointing to the efforts of Prince Bin Salman for turning Saudi Arabia to a developmentalist government, Mostofi said that Saudi Arabia has introduced new tools and markets for reinforcing international trade and exporting companies.
She added that Saudi Arabia attracted $103b of foreign investment and in 2022 it had around $20b domestic investment. She noted that Saudi Arabia invested some $20b abroad, noting that Riyadh is focused on the fields like transport, logistics, renewable energies and production of electric vehicles.
Mostof added that Iran and Saudi Arabia can have good cooperation and then pointed to the good relation between Saudi Arabia and China and TCCIMA recommends the launch of an economic union in the region like EU and it can be a good option for sustainable peace and different future for both states.
She then stated that Iran has good experiences in the downstream like in the field of oil and gas, technical and engineering services and agriculture and today’s seminar was the first on Iran and Saudi Arabia which will help knowing Saudi Arabia’s economy.
She then said that the chamber is determined to dispatch a trade delegation, adding that the chamber will launch a think-tank for broadening ties with Saudi Arabia and the first step is to prepare a roadmap which will be unveiled very soon.
Meanwhile in the meeting, Secretary of TCCIMA Mr. Nahman Eshqi said that Iran has been always beside the Saudis and will be and neither Iran nor Saudi Arabia has enough power to eliminate the other party, adding that the story of competition between the two countries continue and it seems creation of sustainable capacities in both economies to lead to friendship is difficult as both countries are trying to win popularity in the Middle East.
He added that dispute between Iran and Saudi Arabia is nothing new and it has root in the history and it is not limited to recent years and during the Islamic Republic.
Eshqi said that both Tehran and Riyadh are trying to win popularity in the Middle East and after the establishment of Israel, Saudi Arabia has tried to introduce itself as the Arab axe but it has failed and even the country was unable to be effective during the Iran-Iraq war.
He reiterated that both countries are unable to eliminate the other side and the role of the chamber of commerce is irreplaceable for strengthening this relation .
