Saudi Arabia and Iran seek to boost trade
The Saudi Minister of Commerce Usama Faqih recently met with his Iranian counterpart, Mohammed Shariatemdary, to discuss means of boosting bilateral trade exchanges, reported Al-Hayat. The two ministers reviewed the agenda of the fourth annual meeting of the Saudi-Iranian Joint Committee for Economic, Commercial and Technical Cooperation scheduled for next month.
Official statistics show that the value of Saudi-Iranian trade exchanges totaled 498 million Saudi Riyals ($132.8 million) in 2000. A total of 13 Saudi-Iranian joint projects with an estimated total capital of SR 1.1 billion ($293 billion) were formed over the year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)