Arab Economic Forum Recommends Breaking the Coercive Economic Measures Imposed on the Syrian People

DAMASCUS – The Arab Economic Exchange Forum held here on Wednesday at Damascus’ Dama Rose Hotel under the title “Together Towards a Common Arab Market”, recommended the breaking of unilateral coercive economic measures imposed on the Syrian people and the creation of economic and trade opportunities to achieve this goal.

The participants in the forum affirmed in a statement at the conclusion of their meeting the necessity of activating Arab economic integration, improving the volume of inter-trade, opening new Arab markets, establishing an integrated policy among all economic sectors in support of Syrian exportable products, raising Arab export efficiency in general and showing Syria as an investment zone in terms of its important geographical position.

As it is a fertile market for investment in the stage of recovery.

The participants pointed to the importance of exchanging experiences, expanding relations and discussing current and future projects in addition to enhancing the competitiveness of the economic productive sectors and contributing to the development of trade relations between the Arab countries and establishing an integrated economic information center for all economic, commercial, industrial and agricultural sectors.

The Minister of Finance, Dr. Mamoun Hamdan, Chairman of the Economic Committee of the Cabinet, said that investment in Syria has witnessed rapid development in all sectors under intensive government measures to encourage foreign investments and strengthen the resilience of the financial, banking and insurance sectors despite the harsh economic war being waged against Syria and the creation of a legislative and legal structure that attracts Arab and foreign investments.

Dr. Hamdan expressed hope that the participants in the forum will come out with recommendations and proposals that will contribute to the activation of joint Arab economic cooperation.

Head of the Regional Office of the Arab Exporters and Importers Federation in Syria Hassan Jawad stressed that Syria is an important meeting point for Arab trade and fertile land for investments, pointing to the government efforts to create a real investment climate and develop laws and open the door for Arab and foreign investors and achieve real Arab exchange.

The Director General of the Investment Association, Dr. Madyan Diab gave a presentation on the most important investment projects and investment climate in Syria, including incentives and guarantees granted to investors, allowing experts and technical workers from the Arab and foreign countries to transfer 50% of their net wages and salaries.

Dr. Diab pointed to the existence of 6 investment opportunities in the extractive industries in the provinces of Damascus Countryside, Aleppo, Homs and Lattakia and five opportunities for manufacturing industries in the provinces of Aleppo and Homs.

Eng. Sawsan Raslan representing the Investor Services Center at the Ministry of Tourism pointed out that a forum will be held in July of this year under the title (Tourist Investment) during which an offer will be presented on private tourist projects.

For his part, Director General of the Real Estate Development and Investment Authority Dr. Ahmad Al-Homsi stressed the importance of the Law of Real Estate Development and Investment in Syria No. 15 of 2008 and the facilities and privileges granted therein for projects and tax incentives for the newly developed and private real estate development areas.

Eng. Ahmed Al-Khawaldi of the Free Zones Authority showed that the investment facilities provided by investors in the free zones, including the application of the single window system in granting the necessary licenses and approvals and granting them benefits according to the investment system No. 40 of 2003, while the Director General of the Export Promotion Agency Ibrahim Maideh explained the role of the Authority and its contribution to the formulation and implementation of policies Support and economic development and support domestic production and exports.

The Minister of Economy and Foreign Trade Dr. Mohammad Samer Al-Khalil, Dr. Faisal Al-Miqdad, Deputy Minister of Foreign Affairs and Emigrants, a number of Arab and Foreign Ambassadors, The Arab League Secretary and representatives of the chambers of commerce and industry in the Arab countries, the bodies and chambers and the Syrian unions concerned, international organizations, businessmen, investors and owners of economic activities took part in the forum. The meeting was organized by the Regional Office of the Arab Exporters and Importers Federation.

Sharif Al -Khatib