Iran, Saudi Arabia discuss expanding mutual economic ties

Iran’s Economy Minister Abdolnaser Hemmati and his Saudi counterpart Mohammed Aljadaan reviewed boosting mutual economic cooperation between the two countries.

News ID: 6030

Date: 17 February 2025 - 15:08

TABNAK, Feb 17: The two ministers met on Sunday evening on the sidelines of the Conference for Emerging Market Economies, which is held in the Saudi city of AlUla on February 16-17.

Hemmati and Aljadaan emphasized the importance of developing trade and customs cooperation, bilateral investment and avoiding double taxation.

They also emphasized facilitating financial processes related to Iranian Hajj pilgrims.

The Iranian economy minister traveled to Saudi Arabia on Saturday to attend the AlUla Conference for Emerging Market Economies co-organized by the Saudi Finance Ministry and the International Monetary Fund (IMF).

Iran and Saudi Arabia restored their relations in March 2023 under a China-brokered deal, following a seven-year hiatus. The two sides have ever since worked on expanding their ties in various sectors including politics, economy and culture.