Saudi Arabia points to many opportunities for investment in Iran if goodwill is maintained

Archive – Saudi Arabian Finance Minister Mohamed al Jadaan – -/Saudi Press Agency/dpa

The Saudi Arabian government said Wednesday that there could be »many opportunities» for investment in Iran should »goodwill continue,» days after the two countries signed a deal brokered by China to restore diplomatic relations and reopen their embassies.

Saudi Finance Minister Mohamed al-Jadaan has said during a financial conference in Riyadh that »there are many opportunities for Saudi investments in Iran and they could take place very quickly after the agreement». »Our goal has been clearly specified: that the region is stable and able to meet the needs of the population in terms of stability and prosperity,» he added, as reported by the daily ‘Asharq al Awsat’.

In this regard, he stressed that he »sees no impediments» to the normalization of bilateral ties leading to investment opportunities, before stressing that Saudi Arabia is committed to fulfilling the clauses of the agreement, as reported by Al Arabiya TV channel.

The agreement between Iran and Saudi Arabia to resume diplomatic relations, was signed after Riyadh cut ties with Tehran in January 2016 following an assault on its embassy in Tehran during a protest over the execution of a prominent Saudi Shiite cleric. The pact has been applauded by countries in the region and has opened the possibility for a de-escalation of disputes between the two countries in the Middle East, including the conflict in Yemen.