Iran – Syria trade volume is not satisfactory, says Iranian official

Business Materials 1 May 2019 17:14 (UTC +04:00)

Tehran, Iran, May 1


The Chairman of Iran-Syria Joint Economic Committee Keyvan Kashefi said that two countries do not fully use the opportunities for economic cooperation, speaking at the Industrial, Trade and Economic Forum between Syria and Iran, Trend reports citing Mehr News Agency.

"Considering the massive opportunities for economic cooperation between the two countries, the current trade volume is not satisfactory at all. There are some problems, especially in banking relations and money transaction operations, which alongside lack of insurance guarantees and transportation issues create obstacle in reaching the suitable trade volume. Therefore, it is necessary that the governments of the two countries to develop infrastructures," he added.

In his words, although the new trade agreements signed by Syrian Prime Minister and Iran's First Deputy Prime Minister is an important step in creating opportunities development of trade and industrial cooperation, it is also vital to prepare the grounds for implementation of the agreements."

Keyvan Kashefi continued by saying, "There are positive steps in this field, which include cooperation between Iran and Syria 's chambers of commerce and establishment of Iranian trade center in Damascus in near future. Meanwhile, the industrial capacities of the two countries create good opportunity for joint investments and shall be a subject for negotiations."

"Exporting technical and engineering services for plant installation, building roads and bridges, construction housing units and irrigation systems, supplies of medicines and medical equipment, food, agriculture products, petrochemical and mine products and home appliances as well as transportation and health tourism are the potential spheres of cooperation between Iranian and Syrian private sectors," he added. "We hope that the bilateral meetings and negotiations during this forum would be useful for economic development."

Syria's economic and trade delegations are currently in Iran to discuss various issues with Iran's Industry Ministry and customs officials.

Syrian Ambassador in Iran Adnan Mahmoud has recently stressed the necessity of participation of the Iran's private sector in Syria's reconstruction. "The Syrian government is very much interested in the cooperation of Iran private sector in reconstruction of Syria, reforming infrastructure and creating production capacities," he said.