Economy, Domestic Economy

Iranian-Saudi Trade Via Intermediaries

Iranian-Saudi Trade Via IntermediariesIranian-Saudi Trade Via Intermediaries

Trade between Iran and Saudi Arabia is minimal, as commercial exchanges are carried out by intermediary countries, the deputy minister of industries, mining and trade and the head of Trade Promotion Organization of Iran said.

“We don’t consider any limitations on doing business with neighboring countries. However, our neighbors impose restrictions at times,” Mojtaba Khostotaj was also quoted as saying by ISNA.  Close to $151.32 million worth of goods were exported to Saudi Arabia from Iran during the last Iranian year (March 2016-17), registering a 0.21% increase compared with the year before.

The value of imports during the same period stood at more than $79 million, indicating a 4% rise.

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