Saudi Arabia could invest "very quickly" in Iran after landmark deal struck

Saudi Arabia's Finance Minister Mohammed Al Jadaan has said that his country's investments in Iran could happen “very quickly” following an agreement to restore diplomatic ties was struck on Friday (10 March) in Beijing.

The deal, which restores diplomatic relations between the two regional rivals that were broken in 2016, includes an agreement to resume diplomatic relations between them and re-open their embassies and missions within two months. The deal also includes their affirmation of the respect for the sovereignty of states and the non-interference in internal affairs of states.

Speaking during the Financial Sector Conference in Riyadh on Wednesday (15 March), Al Jadaan said "there are a lot of opportunities for Saudi investments in Iran. We don't see impediments, as long as the terms of any agreement would be respected."

Later, in an interview with Reuters news agency, Al Jadaan added, "We have no reason not to invest in Iran, and we have no reason not to allow them to invest in Saudi Arabia. It is in our interest to make sure that both nations benefit from each other's resources and competitive advantage."

"If they (Iran) are willing to go through this process, then we are more than willing to go through this process and show them they are welcome and we would be more than happy to participate in their development," he said.

source: commonspace.eu with Reuters
photo: Reuters/Ahmed Yosri

Related articles

Editor's choice
News
Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell underlined that the European Union will make every effort to support the peace process and to remain a committed partner to the Afghan people. "Of course, we will have to take into account the evolving situation, but disengagement is not an option.  We are clear on that: there is no alternative to a negotiated political settlement, through inclusive peace talks.
Editor's choice
News
Dunya Mijatovic: "Entrenched harmful stereotypes and prejudice against LGBTI people still prevail in segments of Georgian society, including some politicians"

Dunya Mijatovic: "Entrenched harmful stereotypes and prejudice against LGBTI people still prevail in segments of Georgian society, including some politicians"

On March 27, the Council of Europe Commissioner for Human Rights, Dunja Mijatović, issued a statement calling on the Georgian government to “fully respect” its human rights obligations as a Council of Europe member state, “including with regard to the protection of the human rights of LGBTI people,” in response to the ruling party’s initiation of two draft constitutional laws on “family values and the protection of minors.” “I am concerned about the present political discourse in Georgia, as illustrated by the announcement made by the Georgian Dream Party of their initiative to amend the Constitution and to adopt a new constitutional law on ‘Protection of Family Values and Underaged Persons’. It is reflective of entrenched harmful stereotypes and prejudice against LGBTI people which still prevail in segments of Georgian society, including some politicians, and is capable of having a strong, negative impact on the human rights, safety and well-being of LGBTI people and defenders of their rights. It also represents the political manipulation of LGBTI-phobia in the run-up to elections, which I have previously condemned, and which should have no place in a democratic society, based on the rule of law and respect for human rights of everyone.

Popular

Editor's choice
News
Dunya Mijatovic: "Entrenched harmful stereotypes and prejudice against LGBTI people still prevail in segments of Georgian society, including some politicians"

Dunya Mijatovic: "Entrenched harmful stereotypes and prejudice against LGBTI people still prevail in segments of Georgian society, including some politicians"

On March 27, the Council of Europe Commissioner for Human Rights, Dunja Mijatović, issued a statement calling on the Georgian government to “fully respect” its human rights obligations as a Council of Europe member state, “including with regard to the protection of the human rights of LGBTI people,” in response to the ruling party’s initiation of two draft constitutional laws on “family values and the protection of minors.” “I am concerned about the present political discourse in Georgia, as illustrated by the announcement made by the Georgian Dream Party of their initiative to amend the Constitution and to adopt a new constitutional law on ‘Protection of Family Values and Underaged Persons’. It is reflective of entrenched harmful stereotypes and prejudice against LGBTI people which still prevail in segments of Georgian society, including some politicians, and is capable of having a strong, negative impact on the human rights, safety and well-being of LGBTI people and defenders of their rights. It also represents the political manipulation of LGBTI-phobia in the run-up to elections, which I have previously condemned, and which should have no place in a democratic society, based on the rule of law and respect for human rights of everyone.