Iran’s House of Innovation and Technology Exports was launched on Tuesday in Damascus, Syria, to boost scientific and economic relations.
Iran’s government is trying to reduce customs tariffs on trade between Iran and Syria from the current four percent to zero, according to Hamid Zadboum, head of Iran’s Trade Promotion organization (TPO).
Iran is to open a direct shipping line between its major container port of Bandara Abbas in the south and Syria’s Mediterranean port of Latakia in early March, according to the chairman of the Iran-Syria Joint Chamber of Commerce.
The head of the Iran-Syria Joint Chamber of Commerce has called for accelerating the establishment of a joint bank with Syria to boost bilateral trade.
Iran Chamber of Commerce, Industries, Mines and Agriculture has opened a trade center in Damascus with the aim of boosting exports to Syria.
The launch is important as Isfahan is one of Iran’s industrial hubs and more Iranian businessmen and women could travel easily to the Arab country that is seeking foreign investment to reconstruct itself.
Iran’s private sector has called for opening of road transit between Iran and Syria in a bid to further facilitate bilateral trade as Damascus looks for foreign investors and economic operators.
Iran is also trying to be the main partner in Syria’s reconstruction era. The two countries are planning to set up three joint factories on baby formula, anti-cancer pharmaceuticals and car production.
Iran and Syria are set to establish three joint factories that will supply the country with vital staples such as anti-cancer medicine, baby formula and cars.
The announcement comes after the giant heavy energy infrastructure said it had designed, developed, produced and supplied from A-Z all components of a very vital gas turbine, called MGT-40.