Iran-Syria Joint Economic Commission following up implementation of 16 MoUs

EghtesadOnline: Iran’s Minister of Roads and Urban Development, Mehrdad Bazrpash and Syrian Minister of Economy and Foreign Trade, Mohammad Samer al-Khalil met as the heads of Iran-Syria Joint Economic Commission.

News ID: ۷۵۲۷۳۲

29 August 2023

The meeting is held to follow up implementation of 16 MoUs signed in May 2023 during the official visit of Iranian President Ebrahim Raisi to Damascus.

In the meeting, the two sides expressed satisfaction over progress in joint agendas and projects since the last visit which Mohammad Samer al-Khalil called it as a turning point in economic and trade ties and as a sign of determination in promoting bilateral cooperation.

The meetings started Sunday and will continue until Wednesday between counterpart officials.

Some agendas have been realized since May including removal of trade tariffs, increase of flights for 50,000 passengers per year, and maintenance of Syrian aircrafts by Iran. Other agendas are underway including Tehran-Iraq-Syria Railway as an alternative to the land route for transit, repair and maintenance of existing rail routes, rail fleet provision, construction of railway route from Iraq to Syria, trilateral agreement between Iran, Iraq, and Syria for truck transit in the form of a consortium, electricity, water provision, free trade agreement, custom and industrial cooperation, banking, insurance as well as greater air and sea port cooperation.

Previously, heads of Iran and Syria Joint Economic Commission met in Damascus in April 26, 2023 prior to the upcoming visit of the two countries' Presidents for finalizing mutual agreements.  Then, there were intensive meetings including eight bilateral committees that have been held in different fields of cooperation in order to discuss agendas and finalize the MoUs.

One week later on May 3, the high-ranking negotiations ran for strengthening the political relations and expanding commercial cooperation between Iran and Syria by the Presidents of the two countries.

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