RIYADH — Alireza Enayati, Iran’s ambassador to Saudi Arabia, expressed his country’s desire to improve its economic relations with the Kingdom and raise the level of trade and investment exchange to make it the highest in volume in the region.

He made the remarks during his meeting on Sunday with President of the Federation of Saudi Chambers Hassan Al-Huwaizi. Enayati and Al-Huwaizi urged Saudi and Iranian investors to take advantage of the opportunities and advantages of foreign investment in each country.

They underscored the need to resume trade and investment relations and exchange delegations between the two countries to reach the previous level. This is in view of the fact that there is no trade exchange between the two countries despite the magnitude of their foreign trade, as the volume of Saudi trade exchange in 2022 reached about $601.1 billion while the volume of trade exchange with Iran reached about $132.6 billion. This required addressing and revitalizing trade exchange and cooperation in developing the reality of intra-regional trade and moving it to an advanced stage.

The meeting stressed the necessity of investing in the positive atmosphere and activating the signed agreements to open a new page in economic cooperation and raise the level of trade exchanges in proportion to the available opportunities and the volume of foreign trade of the two countries.

The two sides agreed on the necessity of re-exchanging trade delegations, revitalizing trade exchange, achieving integration in the targeted sectors and benefiting from the huge consumer market in the interest of establishing successful partnerships between the business sectors.

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