Syria, Crimean Republic Sign Agreements for Economic and Trade Cooperation

Yalta- Syria and the Crimean Republic of Russia signed on Saturday a cooperation agreement and a memorandum of intent on cooperation between Syrian and Russian businessmen during the Fourth Yalta Economic Forum.

The agreement was signed by Russian President of the Crimean Republic, Sergey Ekionov, and Lattakia Governor Ibrahim Al-Salem.

The memorandum of intent on cooperation between Syrian and Russian businessmen was signed by Chairman of Syrian – Russian Business Council, Samir Hassan, and the head of the Russian Diplomatic Foundation, Andrei Nazarov.

The city of Yalta hosted a seminar entitled “Economic Development in Syria” within the framework of the Fourth International Economic Forum. Participants discussed issues related to the reconstruction process in Syria.

The participants confirmed in a statement the need to develop joint works between Syria and Russia and seek to establish joint companies to implement investment projects and organize a maritime transport line linking Syrian ports with Russian ports, especially in the Crimea.

The President of the Republic of Crimea in a speech he delivered to the symposium, held at the Palace of Levada, stressing the historical importance of Russian-Syrian cooperation in all areas, especially the reconstruction of Syria, noting that President Vladimir Putin always emphasizes the need to cooperate with Syria in all areas, especially economic development.

The Minister of Economy and Foreign Trade Dr. Samer Al-Khalil said, “Syria currently has an appropriate legal and logistical environment to encourage and protect investments and guarantees for business activity and interests. We, he added, have a map of important investments in various sectors of the economy under the principle of balanced development.”

“There are guaranteed investment opportunities and economic feasibility in the fields of sustainable energy, textile industries, advanced technologies, human and veterinary medicines, plant parasites, green fodder, paper and spare parts for cars, machinery, yeast, tires, milk powder, lighting equipment and agricultural tractors.”

“The list of the most important materials and non-produced goods has been developed locally from the most important to the least important, which the government wants to propose to the Russian companies and investors and encourage the Syrian private sector to manufacture these materials as a substitute for imports, which provides foreign exchange and makes them export industries to the countries of the region due to Syria’s distinguished position in the world as well as human cadres with rich experience.”

While the President of the Syrian-Russian Business Council said that the reconstruction process in Syria requires cooperation with Russian companies, pointing out that there are no fears of work in Syria.

For his part, Chairman of the Federation of Syrian Chambers of Industry, who is Head of the Chamber of Industry of Aleppo, Fares Al-Shihabi, said that Syria needs a lot of investment and hopes to promote economic relations to the level of political relations with Russia.

“We have an interest in setting up joint banks as well as airlines, energy and cement projects and modernizing the railway infrastructure,” he said, noting the importance of ensuring the free and flexible flow of goods, personnel and services between the two sides.

For his part, the Syrian ambassador to Russia, Dr. Riad Haddad, praised Russia’s stand by the Syrian people, which has been fighting a war for more than seven years against terrorism, pointing out that this played a role in achieving victories on terrorism supported by Western and regional countries.

The Russian participants in the symposium stressed their readiness to work in Syria and overcome all obstacles and difficulties and presented their qualified economic capabilities to meet the many needs of Syria, especially in the fields of construction, industry, repair of ships, fishing and chemical industries.

Sh. Kh.