Syria and Russia want to boost investments
Syria-Russia, Economics, 2/11/2005

A report by the Syrian Arab News agency (SANA) said on Thursday the Syrian-Russian businessmen discussed in their recent meetings in Damascus building of a common bank as well as constructing olive oil factories.

Talks have dealt with establishing a common bank by investing part of the Russian debt deposited at the Central Bank of Syria.

The report said both sides talked of establishing common companies to build olive oil and fertilizers and some chemical products factories in addition to construct strategic depots for oil derivatives.

It added that there were a suggestion to export metal structures to put up electricity networks lines and construct a company that develop oil wells.

" The two-day visit of Russian businessmen to Syria is to push ties forward by putting into force projects suggested during the visit and therefore drive cooperation process forward," the report said.

Chairman of the Russian Trade and Industry Chamber Yevgney Primakove divulged there were tangible projects that need a study in depth from both sides saying we will work to make these studies ready by the end of coming March.

Trade Exchange between Syria and Russia has surpassed $220 million last year but this does not reflect the desire and ambition of the two countries in light of the level of ties, as Primakove put it.

Syrian and Russian businessmen are intending to make various projects in the field of tourism and industry in addition to export pipe lines and some food stuff together with agricultural equipments and oil and gas industry tools.

Previous Stories:
  Syrian- Russian financial talks   (2/10/2005)
  Syrian finance minister and the Russian debts   (2/7/2005)
  Syria and Russia joint statement on al-Assad's visit to Moscow   (1/26/2005)

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