Iran resumes export of goods to Saudi Arabia following recent reconciliation agreement

Great news! Iran is now moving forward with exporting goods to Saudi Arabia following the recent signing of a significant agreement aimed at restoring relations between the two countries. According to the Iranian industry and trade minister, this marks an important step in the right direction.

Reza Fatemi Amin, speaking to the Iranian state-linked Islamic Republic News Agency (IRNA), shared that the Ministry of Industry, Mines, and Trade has started exporting goods following the initiation of trade relations between Iran and Saudi Arabia.

Following a Chinese-brokered reconciliation agreement signed on 10 March, Iran and Saudi Arabia have agreed to restore formal diplomatic relations and reactivate security cooperation after a seven-year rift. This has led to the resumption of exports between the two countries.

The two sides agreed to re-open embassies and re-implement their 1998 agreement over cooperation in a diverse array of fields including technology, science, culture, and sports. 

They also agreed to respect each other’s sovereignty and upholod the principle of “non-interference in internal affairs”. 

The deal – and China’s involvement – came as a surprise to the world and marked a major geopolitical shift. It has been China’s most substantial and successful diplomatic engagement in the region to date.

Iran and Saudi Arabia had been discussing reconciliation for years prior, through a series of talks mediated by Iraq.

Riyadh and Tehran cut ties in 2016, following the execution of prominent Shia cleric Nimr al-Nimr in Saudi Arabia.