Iraqi trade center opened in Damascus, trade reaches $150 million

Syrian Minister of Economy and Foreign Trade Muhammad al-Imadi on Sunday opened the Iraqi trade center at the Damascus International Fair. The ceremony was attended by an Iraqi delegation in addition to a high-ranking Syrian delegation.

This center is for displaying Iraqi goods and communicating the needs of the Iraqi market for Syrian goods.

Earlier in the day, the Syrian and Iraqi sides, co-chaired by the chairman of th

e Federation of Syrian Chambers of Commerce Rateb al-Shallah and the director-general of the foreign relations department at the Iraqi Trade Ministry, Farouk al-Obidi, discussed trade cooperation relations between the two states and the opening and means of facilitating smooth trade exchange between the two sides.

In a meeting held at the headquarters of the Damascus Chamber of Commerce, the two sides reviewed fields of cooperation in the context of the oil-for-food agreement and means of eliminating obstacles and difficulties challenging the trade exchange process.

The two officials said that opening the Syrian Trade center in Baghdad and the Iraqi trade center in Damascus would help increase trade exchange, by providing information about market requirements in the two states and in ensuring appropriate facilities.

The Iraqi delegation highlighted the main laws and legislation which govern the work of companies in Iraq and transit papers needed for commodities permitted into Iraq and debated statistics on the contributions of Syrian companies in the four stages of implementing the oil-for-food agreement.

Iraqi Minister of Trade Muhammad Mahdi Saleh opened the Syrian trade center at the Baghdad International Fair on September 3.

Iraqi sources told ArabicNewss.com that commercial exchange between Iraq and Syria has intensified since 1997 to reach $150 million.