Foreign Minister Prince Saud Al-Faisal will lead a high-level delegation to a two-day Conference of Foreign Ministers of the Organization of Islamic Conference (OIC), scheduled to take place in Tehran from May 27.
In an interview with Arab News published today, Iran's Ambassador to the Kingdom Ali Asghar Khaji said the Tehran conference would discuss various regional issues, including the current situation in Iraq and the road map for a Palestinian state unveiled by US President George W. Bush.
Pointing out that Saudi-Iranian bilateral trade had shot up from $160 million to $280 million in 2001, and then continued its upward trend last year, the ambassador said the momentum had been reflected in the first half of this year as well. He referred to the high-level delegation of over 50 Saudi businessmen who would be visiting Tehran this month. The delegation will be headed by Abdul Rahman Al-Jeraisy, chairman of the Council of Saudi Chambers of Commerce and Industry. During their stay in the Iranian capital, Al-Jeraisy will also explore the possibility of setting up a free trade zone between the two countries. He also cited the on-going efforts to set up an investment bank, for which a memorandum of understanding was signed with three Iranian banks in June 2001.
Source: SPA
