Syrian exports to Iraq exceed $800 million

Syrian private sector exports to Iraq exceeded $800 million in 2005 through direct deals with Iraqi businessmen, sources at the Syrian Chambers of Commerce said Tuesday.

The sources added that these exports were mainly food stuffs, agriculture products, clothes, kitchenware, detergents and cleaners.

More than 10,000 Iraqi businessmen visited Syria last year and concluded trade deals and contracts with their Syrian counterparts.

Director General of the Commercial Bank of Syria, Dureid Dergham, expressed hope that the bank would seek to resume activities with Iraq through offering services to the exporters and importers of both states.

In this context, Syrian private banks started to play an active role in serving these exporters and importers. In addition, Iraqi banks seek to open branches in Syria.

The sources expected that the Syrian exports to Iraq will increase to reach more than $1.5 billion during 2006.