Syria to move towards a free decentralized economy

At the annual meeting of the Federation of the Syrian Chambers of Commerce held yesterday in Lattakia, Economy and Trade Minister Amer Hosni Lutfi made a presentation in which he talked about the government plan to move towards a free decentralized economy.

In such an economy, the participation among all economic sectors will be greater in support the national economy in a way that contributes to going side by side with the comprehensive development and modernization process.

Referring to the holding of the industry conference in Damascus a week ago,the minister called for the necessity of holding such economic meeting to activate participation between businessmen and government officials in taking objective decisions towards establishing a free Syrian economy in which all citizens take part.

He pointed out that the government is working to establish a free economy but with Syrian particularity, concentrating on the social aspect. "The banking system must be established in accordance with an economy system that has its own institutions and appropriate instruments, taking into consideration international changes," he indicated, adding that the government is moving now toward economic integration into the world economy. Several agreements have been signed on liberalizing the economy market.

Chairman of the Syrian Chambers of Commerce, Rateb al-Shallah said that the development and modernization process needs requirements, unifying efforts and activities an d improving skills in a way that meets aspiration and hopes.

The meeting was concluded with a number of presentations and proposals on the economy market, foreign trade and other economic issues.