All eyes are on the latest step in the restoration of diplomatic ties between Saudi Arabia and Iran. Saudi Arabian Foreign Minister Faisal bin Farhan Al Saud arrived in Tehran on Saturday afternoon, kick-starting his first visit to the Iranian capital after seven years of tensions.

On the same day, Iranian President Ebrahim Raisi met with the visiting Saudi foreign minister. Raisi welcomed the resumption of bilateral ties, calling both sides important and influential countries in the Muslim world.

The top Saudi diplomat was also welcomed by his Iranian counterpart Hossein Amir-Abdollahian. At a joint press conference following their meeting, Amir-Abdollahian hailed the visit as "a positive step in the right direction," adding that the two sides agreed to establish a joint committee to strengthen cooperation in various fields.

"In today's conversation, we focus on the necessity of sustainable economic, commercial, and joint investment cooperation between the two countries," said Amir-Abdollahian.

During the meeting, the two sides discussed that they will strengthen bilateral cooperation in the fields of economy, transportation and tourism, and exchanged views on regional security issues.

"I also carried greetings of King Salman bin Abdulaziz Al Saud, as well as the crown prince and prime minister of Saudi Arabia, who are looking forward to Iranian President Ebrahim Raisi accepting the invitation to visit the kingdom soon," said the Saudi foreign minister at the joint presser.

Prince Faisal also said that the Saudi embassy will soon reopen in Tehran, without giving a specific date. He hoped that the improvement of relations between Saudi Arabia and Iran will have a positive impact on the world.

A new chapter

In March, Iran and Saudi Arabia agreed to reestablish diplomatic relations and reopen embassies in a deal brokered by China. Since then, the two countries have continued to advance toward the goal of restoring diplomatic ties. Last week, Iran reopened its embassy in Riyadh as well as consulate general and representative office to the Organization of Islamic Cooperation in Jeddah.

Alireza Enayati, Iranian ambassador-designate to Saudi Arabia, said dialogue is the only and most effective way to solve problems in all regions of the world, including the Persian Gulf.

"Through dialogue, Iran and Saudi Arabia can have closer bilateral ties and better regional cooperation," said Enayati. "Based on the existing potential for cooperation, Saudi Arabia is fully capable of investing in Iran in different fields, such as hotels, factories, food, fisheries, etc."

"Iran believes that security can be guaranteed with the participation of all countries in the region. Unilateral sanctions and military intervention by the United States are not in the interest of the region," he added.  

Ali Al-Ahmed, director of the Institute for Gulf Affairs, said the economic resources of the Gulf countries have been focused on security and weaponry instead of development since the U.S. sent troops to the Gulf four decades ago.

In terms of regional security concerns, Al-Ahmed said it would be better for the Gulf countries to have a regional agreement for security instead of having foreign powers patrol the Gulf.

Saudi Arabia voted to re-admit Syria into the Arab League in May 2023, despite U.S. objections. The United Arab Emirates (UAE) withdrew its participation in the U.S.-led maritime coalition Combined Maritime Forces (CMF) two months ago. Experts predicted that more countries in the region will follow suit.