Syrian- Iraqi economic cooperation implementations
Syria-Iraq, Economics, 5/27/2002

The Syrian minister of the economy and foreign trade Ghassan al- Refai and the Iraqi minister of trade Muhammad Mahdi Saleh on Sunday in Damascus signed the minutes of meetings of the 4th session of the joint Syrian- Iraqi committee.

The two sides agreed on studying ensuring the free transfer of capital between the two states and working to reactivate joint investment in the production sector as a first phase preparing for investment in other sectors. The two sides underlined the importance of signing an agreement in the field of encouraging investment.

In the said minutes of meetings some 172 common specifications for main exchanged goods between the two states were adopted as a first phase with the unification of other specifications to continue.

The Syrian side asked for adopting the standardization certificate used in Syria and the central department for inspection and quality control in Iraq in regards to governmental sides imports in the two states regarding processed food, textile, chemical, engineering and construction goods. The Iraqi side promised to study that in preparation to sign an agreement between the two states in this regard.

In the field of commercial and financial cooperation, the two sides reviewed steps so far completed from the previous minutes of meetings and studied obstacles and problems impeding the implementation of trade exchange movement between the two states. They agreed to eliminate all hindering obstacles standing against boosting and developing their trade exchange. They stressed the importance of specialized sides' participation in the annual session of the Baghdad International Fair and the Damascus international Fair.

In addition to customs cooperation, the two sides agreed to cooperate in the financial and banking fields and reactivate work in the free areas existed between the two states. They also agreed on continuous cooperation in the field of increasing telephone sector between the two states and reviewed areas of cooperation in telecommunications and information. They stressed complemented measures to found the Arab company for telecommunications.

The Syrian side proposed a memorandum of cooperation for cooperation in the area of design and construction, administration and maintenance of roads and bridges and the Iraqi side approved that the Iraqi ministry of housing will study this proposal.

The minutes of meetings also included several points of cooperation in various agricultural, construction, health, irrigation, education, culture and information fields.

Al-Refai and Saleh, following the signing ceremony, exchanged two friendly speeches in which they expressed their satisfaction over the results concluded by the joint committee and their desire to strengthen and expand bilateral cooperation.

Previous Stories:
  Iraq's trade minister arrives in Damascus   (5/25/2002)
  Iraq, Syria expresses willingness to strengthen cooperation   (5/13/2002)
  Iraq, Syria sign irrigation agreement   (4/10/2002)

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