Iran expects increase of trade with Syria

Business Materials 18 January 2021 15:03 (UTC +04:00)
Iran expects increase of trade with Syria

BAKU, Azerbaijan, Jan.18


It is expected that the Iran-Syria trade would increase to $1 billion in 2024, said the head of Iran - Syria Joint Chamber of Commerce Keyvan Kashefi, Trend reports via ILNA.

"Thanks to certain current actions, we should witness a leap in economic transactions betweeen the two countries," he said.

"Iranian companies are implementing projects in Syria and almost all these companies are from the private sector," he said.

"There have been good agreements in necessary fields including construction and power sector," he said.

Kashefi said Iran aims to focus on steel, petrochemical exports to Syria.

"Considering Iran's industrial capacity, the country could have good industrial cooperation with Syria, as a far as reconstruction is concerned," he said.

"There are big Iranian companies in Syria that are transferring their technical knowledge to the local forces," he said.

Kashefi said the issue of bartering with Syria has been discussed as well.

"Iran formed a committee to have it review the free trade agreement with Syria. The agreement exempted export of 88 items. We could consider exceptions for Syria to update the agreement, that could go beyond bartering," he said.