Iran, Syria to Broaden Economic Ties

Hemmati recounted that he had a meeting with Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil on Monday morning, the two sides have

He added that the two sides emphasized on broadening and enhancing banking ties between the two countries based on economic cooperation agreement inked in this respect.

Hemmati recounted that to study strategies for the development of monetary-banking ties between Iran and Syria, the two sides exchanged views on topics such as exchanging of banking accounts, facilitating money transfer between the two countries, strengthening ties between commercial banks of the two countries, and setting up a joint banks were discussed.

he termed expansion of banking relations as prerequisite for the development of trade and business exchanges between the two countries in line with implementing economic cooperation agreement and added, “Expansion of trade and business exchanges using national currencies of the two countries has been put atop agenda, so that giant steps should be taken towards replacing national currencies with other currencies in bilateral trade and business ties.”

CBI governor pointed to the strategic ties between Iran and Syria and emphasized that Islamic Republic of Iran is ready to expand and develop economic ties between the two countries.

Earlier on Sunday, Iranian Minister of Road and Urban Development Mohammad Eslami said that Iran and Syria have sealed a strategic agreement, adding that an Iranian delegation will visit Syria in the next month to further implement the articles of the accord.

Eslami said that there will be a visit to Syria next month, inviting all Iranian business people to accompany the delegation for talks on the reconstruction process in the Arab country.

He made the announcement at a meeting of Iranian business people with the Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil held at Iran’s Chamber of Commerce.

The Iranian minister said that with the implementation of a strategic economic agreement between Iran and Syria today, the condition is ripe for sustainable development of economic and trade relations between the two sides.

He maintained that the meeting will make it easier for a stronger presence of Iranian private sector in Syria, highlighting the need for the participation of Iranian business people in Syria’s projects following the restoration of peace and stability to the Arab country.

Eslami then called on all Iranian business people to accompany a delegation on its upcoming visit to Syria in January in a bid to hold talks with the Syrian side on the country’s reconstitution process.

He further underscored the participation of the Iranian private sector in Syria’s reconstruction process, referring to plans for taking different measures this time through joint investments.

Senior Iranian officials have repeatedly voiced the Islamic Republic's readiness to help Syria with reconstruction of the war-ravaged country.

In early October, Iran signed an agreement to build a 540-megawatt (MW) gas fired power plant in Syria’s coastal city of Lattakia.

At the request of Damascus, Iran has also been providing military advisory assistance to the Syrian government forces in its fight against foreign-backed Takfiri terrorists.