Economy Minister: New Law to Improve Investment with Friendly Countries

DAMASCUS, (ST) – Minister of Economy and Foreign Trade, Dr. Humam Al –Gezairi, and Ambassador of the Republic of Belarus Alexander Ponomarev discussed here today ways of developing cooperation between the two countries in the various economic, trade and investment fields. 

The Minister expressed Syria’s interest to join the Customs Union and Eurasian calling to give preferential advantages to some of the goods exchanged between Syria and Belarus until the achievement of concrete steps in joining the Union.

 He confirmed the importance of the completion of the legal framework governing the relations of cooperation between the two countries and taking advantage of the existing legal foundations in Syria as law participatory in establishing mutually beneficial investment projects and value-added, indicating that work is under way on the completion of a new investment law in Syria in line with the current stage. The new law would contribute to the foundation for further investment and economic activities between Syria and friendly countries.

In order to overcome the obstacles that hinder the development of cooperation between the two countries, the minister stressed the need to find a joint contact group to coordinate and follow up, particularly finding the appropriate mechanism to finance intra-regional trade and investment, joint ventures and how to obtain financial facilities and discuss the difficulties related to the subject of transport, calling the businessmen and Belarusian companies men to corporate in the establishment of a development and service reconstruction projects in Syria.

For his part, Ambassador of Belarus in Damascus that expressed his country’s desire to strengthen and develop economic and trade relations and increase the volume of trade exchange with Syria, pointing to the need to ensure the success of the meetings the next session of the Syrian Belarusian Joint Committee for trade, economic, scientific and technical cooperation to sign new agreements that contribute to the economy and the benefit of the two countries.

The Ambassador underlined the importance of Syria’s joining to the Eurasian Customs Union reaffirming his government’s willingness to complete the cooperation projects that have already been started to work out between the two sides.

The two sides also discussed ways to develop the role of the Joint Syrian-Belarusian Businessmen’s Council to strengthen trade and investment relations between the two countries.

Sharif al -Khatib