Tehran, Damascus Trade Hits $100 Million in 9 Months

The value of the trade exchanges between Iran and Syria in the nine months of the current Iranian calendar year (March 21 to December 22, 2023) reached $100 million, an official at the Ministry of Foreign Affairs said.

News ID: ۸۲۸۳۲۶

03 March 2024

EghtesadOnline: Head of the Syria Office of Iran’s Ministry of Foreign Affairs Shah-Hosseini made the remarks in the Syria Rebuilding Conference, adding that this conference is a good opportunity for exchanging views on the reconstruction of Syria and cooperation between the two countries in this respect.

Relations between Iran and Syria are strategic and the two countries have forged very good relations in the political and military sectors, he emphasized.

The Iranian official said Tehran and Damascus enjoy high potential to boost their trade more than the current level, Shah-Hosseini added.

He went on to say that Iran’s Ministry of Foreign Affairs is after removing the trade barriers between the two countries, adding that Iran has set up a trade center in Syria to spur trade with the Arab country, Mehr news agency reported.

The official also highlighted the growing banking ties between the two countries.

Elsewhere in his remarks, he pointed to the Free Trade Agreement (FTA) previously inked between Tehran and Damascus and said the implementation of the agreement will increase bilateral trade.

Earlier, an official at the Trade Promotion Organization of Iran (TPOI) said the organization has taken effective measures to get the lion’s share in the Syrian market.

The director general of the West Asia Office of the TPOI said a forum will be held on March 3 to introduce the opportunities in the Syrian market and pave the way for exporting technical and engineering services to Syria, rebuilding the Arab country and providing the goods required by the Arab country. / Tasnim