Addressing the Conference on “Familiarity with Investment Opportunities in Syria” held in Tehran yesterday, Mohammad Reza Modoudi said that Iran’s exports of products to Syria declined following the sanctions imposed on Iran.

IRAN NEWS ECONOMIC DESK

He added, “given the provision of suitable condition for activity of Iranian exporters in Syrian market and acceptable security in this country, presence of Iranian merchants and entrepreneurs in Syria’s market and also optimal use of existing opportunities are of paramount importance.”

He pointed to the longstanding historical relationship between Iran and Syria, which dates back to many years ago, and added, “over the past years, salient achievements and developments have been taken between the two countries in the field of trade.”

Syrian people have experienced many hardships and failures during years of war but Islamic Republic of Iran stood firmly by the Syrian people and government, so that resisting against conspiracies waged against this country is one of honors of Islamic Iran in this respect.”

Turning to the issue of reconstruction in Syria, TPOI head added, “Islamic Republic of Iran will spare no effort to take a giant stride in Syria especially in the field of reconstruction.”

Modoudi also reiterated that imports do not mean weakness, adding that even strong and self-sufficient countries in exports are strong importers, too, and imports do not mean the country is weak.

He went on to say that once Syria’s annual imports were around $30b but because of war, the country’s imports have fallen to $8b, noting that even in that period Iran’s share of Syria’s market was not significant and Iran’s exports to Syria dropped to $168m last year.

He reiterated that Iran can have major share of Syria’s market due to the capabilities of its technical and engineering services companies and they can boost their exports to Syria. He admitted that despite god political relation between both countries, Syria is not among top 20 trade partner countries of Iran but there are huge potentials Syria to be one of Iran’s top ten trade partners.

He added that Trade Promotion Organization has plans to dispatch trade delegations to Syria in order they could get acquainted with the dominating climate in Syria. He reiterated the investment climate for Iranian investors is safe and sound.

Meanwhile addressing the conference, Syrian Deputy Minister of Economy and Foreign Trade Rania al-Ahmad said that attraction of Iranian investment for reconstruction is Syria’s priority.

He added, “We intend to create suitable conditions in order to neutralize the negative effects of organizational failures caused by outbreak of war in Syria.”

Turning to the compilation of new investment law in Syria, she said, “Attraction of Iranian investment is our topmost priority for reconstruction of Syria.”

In the reconstruction field, “we have considered three stages into consideration: rendering relief services, improvement and development, so that challenges should first be identified at the first stage and draw a bright horizon for the future of Syria.”

Compilation of Syria’s new investment law is at the final stage, she emphasized.

Elsewhere in her remarks, Rania al-Ahmad stated, “spurring production and production activity in Syria is one of the another main program that is strictly followed up. Instead of imports, we want to make our production self-sufficient and in this regard, private sector should help us in the field of construction of industrial parks and townships.”

All negotiations conducted between the two countries of Iran and Syria indicate that the two countries are vehemently interested in increasing level of cooperation with each other in relevant issue, Syrian Deputy Minister of Economy and Foreign Trade Rania al-Ahmad added.