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A "significant jump" in trade relations between Iran and Saudi Arabia

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A "significant jump" in trade relations between Iran and Saudi Arabia

2023-01-09 00:00:00 - From: Shafaq News


Iran's exports to Saudi Arabia increased dramatically in 2022 amid the two countries efforts to ease tensions.

According to Iran's customs administration, from March 2021 to November 2022, Iranian exports to Saudi Arabia reached $14.71 million, a record high since Riyadh cut diplomatic ties with Tehran in 2016.

According to the IRIB report, the primary exports include steel, ingots, grapes, and sodium hydroxide.

The Middle East's leading Shi'ite and Sunni Muslim powers, Saudi Arabia and Iran, have been on opposing sides of regional conflicts, including Syria and Yemen.

Since 2021, Iraq has hosted five meetings between Saudi and Iranian officials to ease tensions, the last of which was in April, without achieving any diplomatic breakthroughs.