The value of trade between Iran and Saudi Arabia can reach 2 billion dollars: official
Farshid Farzangan, a member of the Iranian Chamber of Commerce, has noted that there is a possibility of improving trade relations between Iran and Saudi Arabia by focusing on products such as steel, saffron, carpets and dried fruits.
"There is a possibility that the trade value of the two countries will reach 2 billion dollars in the medium term," Farzangan said in an exclusive interview with ILNA.
"Since the agreement between the two countries in March 2023 with the aim of restoring diplomatic relations, trade between Iran and Saudi Arabia has undergone significant changes," he added.
The official stated that, "In the first few months after the agreement, Iran exported about 14 million dollars worth of steel to Saudi Arabia. Based on this, officials are optimistic and predict that bilateral trade can reach 1 billion dollars soon, and possibly in the medium term, focusing on products such as steel, saffron, Carpets and dried fruits grow to two billion dollars."