The project is part of a bigger long-term strategic economic cooperation agreement between Iran and Syria that was signed in Damascus by Iran’s First Vice President Eshaq Jahangiri and Syrian Primer Minister Imad Khamis in Damascus on Monday.
The documents allow Iranian direct investment as well as joint ventures in a wide range of fields. The most important is a banking agreement that will further facilitate trade between the two countries.
Syrian industry minister says such companies can provide the materials that are used in a hundred other industries which will boost economic output.
Eying Syria’s multi-billion-dollar reconstruction market, Iran private sector has put on table a wide range of proposals to bolster Syrian economy and breathe fresh air into the Arab country’s destroyed industry.
The joint committee from the Syrian part conplements a same committee in Iran that are aimed at boosting bilateral economic relations. They lay the groundwork for the creation of a joint chamber of commerce.
The building is inside Damascus Free Zone that is only one kilometer away from the city centre.
Tehran is offering the Damascus government its high expertise and modern industries aiming at aiding the Arab country in post-war era.
Iran’s private sector businesses can export foodstuffs and construction materials to Syria as well as offer technical services in rebuilding the war-torn country, Iran Chamber of Commerce president says.
More than a dozen business owners are looking to increase their ties with Syrian companies at a time when Damascus is eager to reconstruct, showing "open doors" for Iranian investment.
The joint economic committee wil lay the groundwork for a future joint Chamber of Commerce between Iran and Syria.