Syria, Belarus for Wide Business Prospects

(ST) – Important opportunities to be invested in trade and commodity between Syria and Belarus in terms of the trade exchange, which shows the extent of commodity compatibility between the two countries that reflects the extent of the possible opportunities to increase Syrian exports to Belarus in quantity and quality, over the past years, a study prepared by the Development and Export Promotion Authority said.

The study reflects that the trade balance tended in favor of Belarus before 2011 but it turned in favor of Syria in 2011, where imports decreased and exports increased this year and reached about $ 18.5 million, an increase of about 275% for the year 2010 and imports decreased by 73% from $ 42.5 million to 11.5 million dollars, as exports increased in 2013, about $ 8 million compared to 2012, whereas imports declined significantly for the same year.

The most important Syrian exports to Belarus  are phosphate, aluminum products, cotton, fruit, citrus, vegetables, particularly tomatoes and olive oil, whereas Syria’s imports from Belarus include steel products that fall within the field of laboratories, factories and cars, devices of laboratories, as well as petroleum products such as mineral oils, the study reports.

 “The Syrian -Belarusian relations are defined within the legal framework in several important agreements that will increase trade between the two countries, especially to increase Syrian exports in quantity and quality to Belarus, where the signed agreements include all economic areas such as transport, trade, agriculture, air transport agreement  signed between Syrian and Belarusian regions and to what behind them, in addition to the agreement on avoidance of double taxation and prevention of tax evasion, as well as an agreement on banking and payments, cooperation protocol between the civil aviation authorities in Syria and Belarus and a memorandum of understanding between the Syrian Federation of Chambers of Commerce and the Chambers of Commerce and Industry of Belarus and cooperation agreement in the field of standards and specifications, according to the study.   

The study indicates that the most important possible bilateral cooperation sectors between the two countries, which would develop trade relations in the field of industry, show the importance of establishing a company for filling the Syrian olive oil in Belarus, a joint venture in Minsk or in Syria for bottling juice from the Syrian agricultural products in order to invest the surplus quantities of Syrian fruits and citrus.

For the oil and mineral wealth, the study of the Syrian side is interested in the import of diesel from Belarus and the export of Syrian phosphate, in addition to benefiting from the  Belarusian expertise in the field of oil industry equipment and devices and converting cars to work on the gas.

The study underlines the need to strengthen the standing trade relations, raise the level of bilateral trade exchanges and expand the line of goods between the two countries , in particular through the completion of a project to set up a free trade zone between Syria and Belarus as soon as possible.

The study also includes proposals for the potential of finding outlets for public establishments affiliated to the Ministry of Economy and Trade in Belarus and these institutions can open  similar outlets to the Belarusian establishments at the Belarusian provinces in Syria, with emphasis on the importance of operating a regular air route between the two countries and the possibility of the participation of the Syrian private sector.

Sharif al -Khatib