Economic Cooperation with BRICS, Iran Discussed

(ST)- The Syrian Investment Authority (SIA) in cooperation with the Syrian Group for Research and Economic Studies held recently a seminar at al -Assad National Library in Damascus entitled “mechanisms and economic cooperation requirements with BRICS countries and Iran”.

Involving Relevant ministries, bodies, institutions, public companies of related economic activities, members of parliament, the United Nations Fund for Development,institutions and youth organizations andresearchers ineconomy, and professionals in the field of economic media.

The Investment Authority shows that this seminar falls within the great importance that characterizes the development and activation of relations with the BRICS countries and Iran and especially in light of many reasons, including: diversify of export markets and import, opening new markets and sources in front of Syrian trade in order to avoid the effects of sanctions and economic blockade, finding new partners for investment projects from both the public and private sectors, working together to create strategic partnerships, strengthening economic ties with more friendly countries to support the process of reconstruction, the establishment of partnerships to councils of businessmen in these countries and activating the existing ones with the public, private and joint sectors in Syria.

In this regard, the SIA indicated to the presence of Syria’s good relations with most of the BRICS countries and the agreements signed with Russia, China, India, South Africa and Iranconcerning the promotion and reciprocal protection of investment and trade and economic cooperation. So there is the possibility for cooperation with those countries in many areas includingcooperation with Russiain the field of fertilizers and phosphate and the establishment of new plants, the development and rehabilitation of the Hama plant tires and cement factories and textilepublic sector, the establishment of projects for refining and filtering and olive oil, sunflower seeds, soybeans, maize and factories of butter, cheese, milk, pasta, cooperation in the establishment of plants for the production of industrial and electrical machinery.

Cooperation with India in the field of rehabilitation of al -Basel Laboratory in Hama Iron and Steel Company, cooperation in the field of software industry and the rubber and plastics industries, fertilizers, cooperation in the field of information and communication technology and in the field of waste management, and electronic waste.

Cooperation with China  in the field of textile industry and machinery industry production, cottons and garments, cooperation in the development of Hama tires plant and many other areas.

Cooperation with Iran in the field of banking and financial sector, cooperation in the field of manufacturing and assembling of cars and agricultural machinery, cooperation in the field of cement and fertilizer industry and many other fields.

The most important themes in the symposium were on the strategic dimension of economic cooperation with BRICS countries and Iran, the possibility and prospects of cooperation with those countries and in the field of real estate development, reconstruction projects in Syriaand the role of promotion and marketing in the activation and development of international economic relations.

Sharif al -Khatib