Syrian Imports from Russia to Reach Between 15%- 40%

DAMASCUS, (ST)- Deputy Minister of Economy and Foreign Trade, Dr. Hayan Suleiman, said that figures of Syria's foreign trade with Russia, in particular imports, had risen recently.

"In the framework of the government's plan to activate relations towards east, a Syrian delegation representing the Ministry of Economy and Foreign Trade, Syrian Business Center and Export Centre visited Moscow recently and discussed with the Russian side means of activating economic relations, referring to the willingness of the Russians to develop these relations in the field of industry, commerce and even agriculture," Dr. Suleiman said.

"The Syrian- Russian Business Center will be one of the most important pillars of economic ties with Russia after the activation of the center latetly, indicating that the majority of its members from the private sector, which will provide the priorities of the Syrian needs imported from Russia, due to the important role being played by the private sector in providing these imports," Dr. Suleiman pointed out.

Concerning the proportion of the Syrian foreign trade with Russia, the Deputy Minister of Economy and Foreign Trade said that this percentage had increased significantly by doubling over the last period of up to 15%, after it was previously not more than 3- 4% just before the year 2010, expressing optimism that the ratio will rise to 40% by virtue of  the development of economic relations between the two countries.

"This development in economic cooperation is surely in the interest of Syria, taking into account that the general trend 'going east' is based on the transfer of all economic weight in the relations with the countries of the European Union to Russia, the BRICS group and the Organization of Economic Shanghai, due to the gravity of Russia in these economic blocs," Dr. Suleiman underlined.

Regarding the most Syrian imports from Russia currently include finished goods and industrial facilities as well as foodstuff, medical supplies and other, noting that the agreement with Russia provides for exporting fruits, vegetables and other of goods that Syria has a sufficiency of them.

"Syria  signed agreements in all fields, particularly in the area of banks and monetary, pointing to other agreements concluded with Russian banking institutions, in addition to the agreement on the establishment of a group of exhibitions," Dr. Suleiman commented.

Deputy Minister of Economy also revealed for a request from Syria to make a business center similar to the Syrian- Russian Business Center with Iran located in Damascus, and the line of credit, between Syria and Iran, is a new way of economic dealing.

"Some difficulties will encounter this credit line when dealing with it for the first time, taking into account the treatment of these difficulties, stressing that the establishment of this line in front of the private sector as it is available in front of the public sector would unite the Syrian economic sector to provide Syria's supplies of all goods and commodity, considering the credit line as a peculiar step in the development of economic relations between Syria and Iran.," Dr. Suleiman concluded.

Sharif al-Khatib