JEDDAH, 22 December 2002 — Iran’s first trade center opened here yesterday. It was described as the country’s first anywhere in the world at a formal inaugural ceremony attended by Iranian Consul General Mohammed Sh. Mahdavi and Khaled Zainy, member of the board of directors of Abbar & Zainy. The center is located in a 2,000 sq. m. area east of the Consulate General of India, Madinah Road.
A top Iranian official said the country had liberalized its investment policy and was keen to invite Saudi investors to take advantage of its vast potential.
“We would like Saudis to enter into a joint venture with us and set up a Saudi-Iranian bank,” A.N.S. Khamoushi, president of the Tehran-based Iran Chamber of Commerce, Industries & Mines, said. “This is the world’s first trade center of our country and we plan to follow suit in 12 more countries in due course,” he said, adding that his country had started liberalizing rules to meet World Trade Organization requirements.
According to Khamoushi, the volume of bilateral trade was around $350 million, with the balance remaining in Iran’s favor. Among its Saudi imports are petrochemical products.
“Showcasing their products are 45 companies for which United Arab Agencies owned by Abbar & Zainy are the local agents,” Zainy said. Food, especially pistas, spices and saffron, industrial items, carpets, crockery, leather goods and photo frames depicting scenic beauty of Iran, are among the large number of products on display.
“We’ve plans to open such centers in Riyadh and Dammam,” Zainy said, adding that he hoped the center would help further boost Saudi-Iran trade.
