Minister: Iraq-Syrian Trade Expected to Rise to $1.5b
The volume of trade between Syria and Iraq is expected to increase to $1.5 billion by December 2001, said Iraqi Economy Minister Mohammed Mehdi Saleh on Monday.
Saleh, who arrived in Syria, met with Syrian Prime Minister Mustafa Miro and Economy Minister Mohammed al-Imadi to put the “final touches” on several joint industrial projects between the two countries, reported the Daily Star newspaper.
“So far, Iraq is very pleased to be working with the Syrian private and public sectors,” Saleh said.
Economic relations between the two nations were restarted in 1997, a year Saleh called “a turning point.”
Trade between the two countries currently stands at $1.3 billion, though Saleh said Baghdad planned to raise that figure to $1.5 billion within three months.
One project the two men discussed was a possible joint-transportation company for goods and passengers.
With branches in Baghdad and Damascus, it would deal with the influx of Syrian merchandise, as well as the travel regulations, fees and procedures of citizens wishing to enter or leave Iraq, said the paper.
A number of other joint ventures, in both the public and private sectors, were also discussed. Among them were seven industrial and construction companies.
“Although joint Arab ventures in the past were failures,” said Saleh, “we plan on changing that today.” – Albawaba.com