Major Activities of the Ministry of Economy and Foreign Trade in 2019

The activities of the Ministry of Economy and Foreign Trade during 2019  focused on signing agreements with friendly countries including   Crimea, Belarus and Iran, strengthening cooperation with other countries, participating in 17 external exhibitions, and supervising 47 internal exhibitions whilst adopting measures to protect the national product  in addition to  work in the field of empowering entrepreneurs and owners of small and medium-sized enterprises.

In the field of bolstering economic and trade  relations with a number of  countries, the ministry has taken several measures  including the inclusion of Syria in the list of countries that enjoy the customs privileges of the Eurasian Economic Union,  participation in the “Arabia Expo 2019” exhibition held  in Moscow between  8-10 of April 2019 , the signing of an agreement on trade and economic cooperation with  the Crimea on August 29, 2019 ,  the opening of a branch of the trade  house “Syria .. Crimea” in Damascus and participation in the Yalta International Economic Forum held in the Republic of Crimea on   18 – 20 of April 2019.

 The year 2019 also witnessed the signing of the   long-term strategic economic cooperation agreement at the conclusion of the works of the Syrian-Iranian Joint Ministerial Committee and the signing of several cooperation documents with Belarus during the meetings of the seventh session of the Joint Committee held in Damascus on 29 and 30 August 2019,

The Ministry has also completed procedures for putting   trade and economic cooperation agreements into effect , which were  signed   between Syria and Abkhazia on one hand and Syria and South Ossetia  on the other hand . An agreement to establish a commercial house in both Syria and South Ossetia was also signed on August 31, 2019. .

Concerning  the activity of the General Establishment  for Free Zones, the actual revenues of the Foundation amounted to  about 4056 million Syrian pounds until the 30th of November 2019, while the value of trade movement  reached  about 85.5 billion pounds and   the invested capital  amounted   around 751 million dollars.

With regard to the General Organization for Exhibitions and International Markets , this year witnessed the holding  of the 61st session of the Damascus International Fair  with the participation of 38 Arab and foreign countries and 1700 companies in an area that is the largest since the first sessions of the Fair  ,  supervising 86 bazaars, 25 shopping festival and 47 exhibitions in addition to participating in 17 external exhibitions.

 A  number of cooperation agreements have been signed between the Small and Medium-Sized Enterprises Authority (SMEDA) and some training centers in the Syrian governorates with the aim of empowering entrepreneurs and owners of small and medium-sized  enterprises, qualifying and employing youth capabilities  in all professions and specializations.

Concerning  the development of local production and exports, necessary measures are being carried out to follow the  implementation of  an external marketing program for Syrian agricultural products and launching the national campaign to promote  Syrian citrus internally and externally.

Top priority was also given by the ministry of economy and foreign trade  to support the private sector’s role  through implementing   a package of policies and  the  draft investment law was completed by the ministry  with the aim of creating a stimulating and attractive investment climate for local and foreign investments and preparing a set of executive programs within the post-war Syria program, particularly those concerned with enhancing  the business environment, developing small and medium-sized  enterprises and enabling foreign trade..

Rawaa Ghanam