Iraq, Syria explore ways to expand bilateral trade
Shafaq News- Damascus
Iraq and Syria discussed ways to expand trade and economic ties during a meeting in Damascus on Wednesday between Iraqi Federation of Chambers of Commerce President Amer Khalaf Alawi and Syrian Deputy Minister of Economy and Industry for Internal Trade Maher Khalil al-Hassan, according to Syria’s Ministry of Economy statement.
Several memorandums of understanding are expected to be signed in the coming period as part of efforts to strengthen the economic and trade partnership and open new avenues for bilateral commerce, the statement added.
Both sides reviewed bilateral trade, including ways to increase the flow of goods and products between the two countries, “while addressing obstacles facing cross-border commerce and discussing practical measures to ease procedures and facilitate the movement of goods.”
The two officials also discussed greater coordination between business communities and chambers of commerce in Iraq and Syria, with a focus on expanding trade, stimulating markets, and creating broader opportunities for Syrian and Iraqi businesses and investors.
The meeting also underscored the need to remove trade barriers and create a more flexible environment for economic activity to promote greater integration and a stronger commercial partnership between the two countries.
On August 13, Khaled al-Khader, director general of the Syrian Authority for Supporting and Developing Local Production and Exports, told Shafaq that Syria is shifting from raw-material exports to higher-value products, with Iraq among its main markets alongside Jordan and the Gulf.
On May 1, Iraq launched its first crude oil export operation through the Rabia–Al-Yarubiyah crossing, dispatching an initial shipment of 70 tanker trucks to regional markets. crossing between Iraq and Syria reopened to trade and passenger traffic on April 22 after 13 years of closure driven by security challenges during the fight against ISIS, as well as shifting control and coordination issues along the frontier.
