Syrian–Russian Economic and Geopolitical Cooperation Center

Within the framework of the Government’s new drives and orientations towards strengthening Syria’s relations with friendly countries, the People Assembly is due to discuss a draft law which provides for ratifying an agreement on establishing a Syrian-Russian business centre for financial, technical, scientific, economic and geopolitical cooperation.

The agreement was signed on 3rd of last August in Moscow between the Syrian Ministry of Economy and Foreign Trade and the International Centre Of Geopolitical Analysis And Trade Cooperation in Moscow.

The agreement provides for offering all kinds of support to carry out Russian projects or joint enterprises due to be implemented in Syria with the aim of bolstering the Syrian–Russian technological cooperation, the agreement requires consolidating the activities of the productive, technical, and scientific establishments which work in conformity with the Syrian partners’ goals and Priorities. It also requires the enhancement of investment climate.

According to the second item of the agreement, the Syrian –Russian business centre will support all domains of joint interest, including energy, infrastructure, communication, IT, medicines, food stuff and chemical industries in addition to environment, transport and tourism.

According to the agreement, the two sides agreed on making use of services offered by “Vladikom” Bank in Moscow.

In the meantime, Syria and Russia discuss the possibility of establishing a Syrian-Russian joint bank with the purpose of financing the projects and economic activities due to be implemented in Syria or Russia.

The signed agreement provides for establishing a guidance committee which includes representatives of Syrian and Russian public and private sector parties.

The committee’s task is to deal with the centre’s administrative measures including the list of employees, expenses and the maintenance budget.

Rawaa Ghanam