Syrian-Iraqi trade reached almost two billion dollars over the course of 2001. In 1997 bilateral trade between the two states reached only $50 million, reported Xinhua.
In a bid to continue trade development Syria’s second Product Fair will be held from June 22-30 in Baghdad and the Syrian Economic Sciences Society is planning to hold, in cooperation with the Iraqi Economists Society, a seminar in July on ways to expand bilateral trade exchanges and overcome potential trade obstacles in addition to the impact of the Syrian-Iraqi Free Trade Area on bilateral trade.
Governed by rival branches of the pan-Arab Baath party, Iraq and Syria started to normalize relations in 1997, after a 17-year break in ties. The two countries had been locked in hostility since Syria backed Iran in its 1980-1988 war with Iraq. Syria also fought in the 1991 international coalition that ousted Iraq from Kuwait after seven months of occupation. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
