Thirty Iranian companies have opened office at Iran Trade Center in Damascus, head of Iran-Syria Joint Chamber of Commerce says.
A variety of services, including marketing, transportation, legal advisory, banking and insurance, are provided to the Iranian companies stationed at the trade center which was established by Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Keyvan Kashefi said.
“The center itself has become an accelerator for Iran's exports to Syria,” said Kashefi, who is also a board member at the ICCIMA.
Keyvan Kashefi, chairman of Iran-Syria Joint Chamber of Commerce
The ICCIMA opened the trade center in Damascus in October 2020 with the aim of boosting exports to Syria.
The center, a 12-story building situated in a 4,000-square-meter plot of land, has been purchased and equipped by Iran Chamber of Commerce which is the main private sector advocacy group in Iran.
According to Kashefi, Iran aims to increase annual exports to the Arab country to $1 billion by the end of 2021.
“Bilateral trade between Iran and Syria trade was slowed over the past [Iranian] year (ended March 20) by the coronavirus pandemic and tough US sanctions which have hit both Tehran and Damascus,” Kashefi said.
Iran Trade Center building in Damascus
According to the businessman, Iran-Syria trade was at $180 million during the past Iranian year. “Next step would be $500 million and then $1 billion,” Kashefi said.
Bilateral trade is expected to witness growth in the new Iranian year (started March 21) because of “significant coordination” happened between the Iranian and Syrian private sectors.
Some 10 trade delegations have been exchanged and two exhibitions were held in Damascus and Tehran over the past year, Kashefi said.