Syria and Iran Wednesday signed, on the sideline of an investment conference which kicked off in the southern Syrian city Sweida, a memorandum of understanding ( MoU) on establishing 14 projects and a joint investment holding company, the local website Syrian News Station (SNS) reported.
The Investment Conference in Syria's Southern Region started on Wednesday in Sweida with participation of 700 investors, which aims to attract investment to Syria's southern governorates Daraa, Sweida, and Quneitra, Xinhua reported.
Syria's Deputy Prime Minister for Economic Affairs, Abdullah al- Dardari, signed the agreement with the Iranian First Vice- President's assistant Ali Agha Mohammadi, the report said.
Dardari said that the MoU covers cooperation in the field of scientific research, technology transfer, banking and insurance, pointing out that an Iranian bank and several insurance companies will be established in Syria.
Mohammadi said that Syrian-Iranian ties are based on strategic relations, adding that the trade and economic relations should be further enhanced to reach the level of the standing political relations.