Economy, Domestic Economy
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Politics Hamper Trade With Saudis

Politics Hamper Trade With SaudisPolitics Hamper Trade With Saudis

Trade with Saudi Arabia has been made difficult as the Arab country has imposed several restrictive measures against Iranian businessmen, including lengthy visa issuance procedures, Ebrahim Jamili, a senior member of Iran-Saudi Arabia Joint Council said on Sunday.

 “Saudi Arabia is a very big regional market. But, unfortunately trade with this country is subject to regional volatilities,” he said in an interview with Eghtesad News, hoping the latest nuclear achievement  between Iran and the West will persuade Riyadh to change its stance against Tehran and Iranian businessmen.

After months of negotiations Iran and the P5+1 group (the US, the UK, France, China, Russia and Germany) reached a framework for an agreement to end a decade-long standoff over Iran’s nuclear energy program. According to the plan, Iran is to scale back the number of installed centrifuges, in return for the United States and the European Union lifting the current sanctions regime against Tehran.

Jamili said Iran’s attempt to normalize and upgrade relations with its neighbors has sent a positive signal to the neighboring countries, marking a new chapter in Iran’s regional economic ties.

President Hassan Rouhani has on several occasions said that his government is determined to seek rapprochement with the neighboring countries, saying enhancement of relations with neighbors is high on the agenda of the Islamic Republic of Iran.

“Having good relations with neighbors is undoubtedly the first step in expanding our foreign relations, which is of utmost importance both in terms of national security and in cultural terms,” Rouhani said in February.

Financialtribune.com