Iran-Syria Trade to Hit $1b by 2020

IRAN NEWS ECONOMIC DESK

TEHRAN – The Chairman of Iran-Syria Joint Chamber of Commerce Keyvan Kashefi believes by some plans on the agenda, the trade volume between Iran and Syria could rise to $1b by 2022.

On the outlook of trade between Iran and Syria, Kashefi said he predicts a good outlook for bilateral trade between Iran and Syria especially after the launch of the joint chamber of commerce. He added with the plans on the agenda, he hopes the current trade volume to touch $1b by 2020.

He added in the past 18 months, all economic activities of the private sector of Iran with Syria were done in the form of economic committee but today and because of the rise in the number of economic transactions with Syria, the joint chamber of commerce has been launched.

He noted that Syria will be one of Iran’s main export destinations in near future because both countries have many commonalities which can boost the trade ties.

Kashefi reiterated that Syria is eager to expand economic interactions with Iran and Iran should take advantage of this opportunity.

He pointed to the plans for increasing economic relations with Syria, adding that although Iranian companies in the past one and half a years have participated in some exhibitions in Syria and have put on this play their achievements, the chamber has plans for more presence of Iranian exhibitions in Syria.

Kashefi added that the chamber is to hold an exhibition on Iran’s capabilities in Syria to introduce Iranian companies to Syria’s market.

He also said the chamber has plans for exchange of economic delegations, comprised of economic activists from private sectors of both states.

Kashefi noted that soon the trade center of Iranians will be launched in Syria and a building has been bought in Damascus where Iranian companies can be placed.

He said the chamber is to allocate two floors of the building to specialized exhibitions and auxiliary services.

He also said launching a credit line with Syria for easing the trade is necessary and talks are underway, adding that it needs Iran’s Central Bank’s cooperation.

Kashefi noted that Syria once was one of the biggest producers but due to the war, it is now in reconstruction era and it is good opportunity for Iranians to cooperate in reconstruction of the country.

He admitted that the most important issue for trade with Syria is the route of transit, adding that currently marine route is the best option for transshipment of goods.

On the land transport, he said there are several problems and to resolve them, it needs serious cooperation of Iran, Iraq and Syria.