Iran and Saudi Arabia have seemingly resumed trade ties after a thaw of diplomatic relations between the two countries, Iranian Minister of Industry, Mine, and Trade Reza Fatemi Amin said on Tuesday.
The news comes less than a month after Iranian and Saudi foreign ministers met in Beijing to discuss reopening diplomatic missions in both countries.
In a China-mediated deal earlier on March 10, top security officials from both countries agreed to restore relations after seven years of diplomatic hiatus.
Chinese Foreign Minister Wang Yi (center), Saudi Arabia’s National Security Adviser Musaed bin Mohammed Al-Aiban (left) and Iran’s top security official Ali Shamkhani (right) pose for a photo after reaching a China-brokered deal between Iran and Saudi Arabia in Beijing on March 10, 2023.
Exports of Iranian commodities to Saudi Arabia are on the agenda, Fatemi Amin said.
“With the beginning of trade between Iran and Saudi Arabia, our colleagues at the Ministry of Industry, Mine, and Trade have started the process of exports,” the minister said.
Iran and Saudi Arabia severed ties in 2016 after angry protesters stormed into Saudi diplomatic missions in Iran following the Saudi execution of a prominent Shia cleric Sheikh Nimr Baqir al-Nimr.
The normalization of ties between the two neighboring countries is expected to leave major impacts on regional developments.