Syrian - Lebanese economic cooperation focus on concrete results, set up joint companies

The Syrian-Lebanese joint committee on Monday concluded its meetings in Damascus. The two sides agreed to assign a committee of exerts and technicians to set up Syrian-Lebanese joint venture companies.

They stressed the need to follow up on the issue of establishing a Syrian-Lebanese holding company by the Syrian-Lebanese business center.

Syrian Minister of Economy Muhammad al-Imadi and his Lebanese counterpart, Nasser al-Saedi, discussed the project of the Syrian-Lebanese cement factory.

The two sides also reviewed the negotiation step each of the two states held on the bilateral level with the European Union. They noted the importance of cooperation and coordination between the two sides in this field and its impact in strengthening their negotiating position. They agreed to invite specialists in the two states to convene a joint meeting in the very near future.

The two sides called for revitalizing the role of businessmen and economic activists in order to expand trade, investment and industrial exchange through making use of the competitiveness between Syrian and Lebanese industries and facilitating customs and administrative measures for exchanging commodities and production between the two states.

The two sides agreed to find a new mechanism to pay the costs of commodities exchanged through the system of letters of credits and according to an agreement between the Syrian Commercial Bank and the Lebanese banking system.