Syrian finance minister and the Russian debts
Syria-Russia, Economics, 2/7/2005

Syria's Minister of Finance Muhammad al-Hussein said Sunday that Syria will deposit 27 billions Syrian pounds in a private account, in the Central Bank of Syria, for Russia.

"The Russian Government will use this amount to pay for Syrian goods which will be exported to Russia, or to finance Russian investments in SyriaÉ the amount will be paid by Syrian pounds if we receive an official written acceptance from the Russian government," Minister al-Hussein told SANA staff reporter two days before an expected visit by the Russian Chairman of Commerce and Industry Chamber Evgeni Primakov and businessmen delegation to Syria.

"The agreement represents an important opportunity for the Syrian private and general sectors to export high-quality Syrian goods to the Russian market," the Minister added.

He expected both sides will establish joint investing projects in Syria that will make use of the private account of the Russian government after signing the final agreement, adding that the protocol set a time of no more than 90 days for the agreement to be applicable.

One of the positive outcomes of President al-Assad's visit to Russia last month was settling the Syrian debts for Russia, both sides agreed that the total settlement amount will be $ 3.616 billions which equals 27% of the former total debt.

Previous Stories:
  Arab Jerusalem newspaper and al-Assad's visit to Moscow   (2/4/2005)
  Syria and Russia joint statement on al-Assad's visit to Moscow   (1/26/2005)
  Moscow studies cutting most of the Syrian debts   (1/26/2005)
  Syrian- Russian energy cooperation   (12/20/2004)

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