Saudi-Iranian shipping company discussed
Discussions to establish a joint Iranian-Saudi sea company are currently underway under the auspices of the Saudi Chamber of Commerce, reports KsaToday daily. The two counties decided to set up such a company following a comprehensive evaluation of the needs of both states in the area of import and export shipment.
In addition to merchandise exchange between the two nations, the new company will also facilitate the transport of passengers to and from Iran and Saudi Arabia.
Economic relations between the two were bolstered this past May, when Iran’s Foreign Minister Kamal Kharrazi and Prince Saud Al-Faisal met in Jeddah to discuss such expansion.
According to them, improved relations would not only be beneficial to their own nations, but would also strengthen relations between other Muslim countries, especially in the Persian Gulf.
Iranian goods currently exported to Saudi Arabia include dried and fresh fruits, saffron, iron, copper, carpets, and machinery. Saudi exports to Iran, on the other hand, consist mainly of petrochemicals and air conditioning units. ― (MENA Report)
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