2004 News Story

Joint Saudi-Iranian Commission holds Sixth Session in Tehran

Minister of Commerce and Industry Dr. Hashim Yamani led the Saudi delegation to the two-day Sixth Session of the Joint Saudi-Iranian Commission, which concluded in Tehran today. Dr. Yamani confirmed the desire of the two countries to enhance their cooperation, and cited achievements already attained by the Commission, including the opening of a Saudi commercial attaché’s office in Tehran, and the signing of a technical cooperation program between the Saudi Arabian Standards Organization (SASO) and the Iranian Institute of Specifications and Industrial Research. He urged Saudi and Iranian businessmen to contribute to boosting commercial economic relations between the two countries, and reiterated the Kingdom’s concern for cooperation with Iran in technical, cultural and information spheres.

The current volume of trade between the Kingdom and Iran is about U.S. $500 million, but could be enhanced by cooperation in the production sectors of iron and steel works, car manufacturing, petrochemicals, and pharmaceuticals, as well as in the service fields of tourism, air and land transport, and the establishment of a joint marine company. Iranian commerce minister Muhammad Shariat-Madari, calling on the Saudi and Iranian private sector to contribute to enhancing bilateral economic relations, pointed out that Iran extends all possible facilities and incentives to foreign investors.