Oil Pivotal in Promoting Iran-Saudi Arabia Common Economic Interests: Owji

Oil industry can play a “pivotal” role in promoting common economic interests of Iran and Saudi Arabia, said Iranian Oil Minister Javad Owji.

The minister, who made the remarks in his meeting with Saudi Ambassador to Iran Abdullah bin Saud al-Anzi in a ceremony to celebrate the kingdom’s National Day, added Iran and Saudi Arabia are the two big powers in the region and their cooperation will be effective in boosting security, economic development, promoting the Islamic world’s cultural and social activities, and shaping international and energy relations.

Tehran-Riyadh cooperation in regional and international organizations has created new opportunities, said Owji, adding, “In addition to different sections of the United Nations (UN), the Organization of the Petroleum Exporting Countries (OPEC), and the Organization of Islamic Cooperation (OIC), which have a long history each, new international organizations such as the Shanghai Cooperation Organization (SCO) and Brazil, Russia, India, China, and South Africa (BRICS) will forge the two nations’ bond in the future.”

Iran and Saudi Arabia, as the two founding countries of OPEC, have been together and shoulder to shoulder with other member states making unflinching efforts and experiencing ups and downs for more than 63 years to stabilize the oil market, said the minister, adding such cooperation in today’s world is “unique”.

“I, as the Iranian head of Iran-Saudi Arabia Joint Economic Cooperation Commission, believe that the expansion of ties between Iran and Saudi Arabia and also neighboring states will open a new chapter in regional development,” Owji concluded. - Shana