Iran wants to resume economic ties with Arab countries

Iran is ready to resume economic relations with all Arab countries in the middle East region, following the recent agreement on the restoration of diplomatic relations with Saudi Arabia, Iranian Economy Minister Ehsan Khandozi said.

"Based on the neighborhood policy, our government is fully prepared to resume economic relations with all countries of the region (Middle East) and regards enhancing good neighborly relations with them as a factor in strengthening the region itself. Countries like Saudi Arabia will have an opportunity for economic cooperation with Iran," RIA Novosti cited Khandozi as saying.

On March 10, Iran and Saudi Arabia signed an agreement mediated by China to resume relations, as well as open embassies and representative offices within two months.

The joint statement was signed after days of talks between the head of Iran's Supreme National Security Council and his Saudi counterpart in Beijing. The foreign ministers of the two countries intend to meet to discuss the implementation of the agreement.

Diplomatic relations between Tehran and Riyadh were severed in 2016, but in recent months both sides have expressed a desire to resolve existing differences.