Iran, Syria launch joint bank

Iran’s Minister of Roads and Urban Development Rostam Ghasemi, who is visiting Syria on Thursday, said that the two countries will establish a joint bank, the Iranian news agency (IRNA) reported.

Qassemi said that he met with Syrian President Bashar al-Assad and they discussed the Syrian economy and the problems and obstacles facing the Iranian-Syrian economic relations.

He added that Tehran and Damascus had agreed to form a joint committee to investigate the reasons for the failure to implement some memoranda of understanding signed between Iran and Syria.

The minister also said that he met with Syrian Foreign Minister Faisal Miqdad, where they agreed to launch a joint bank in Syria and to open Iranian and Syrian banks and agencies in both countries.

Qassemi said that he and his Syrian counterpart decided to meet with senior aviation officials in Iran and Syria to discuss operational issues in air transport.

Qassemi said, in a separate meeting with the Syrian Minister of Economy, that it was decided that the Chairman of the Supreme Council of Iranian Free Zones would visit Syria to discuss the establishment of a joint free zone and sign agreements in this regard.

The Iranian minister went on to say that his meetings with Syrian officials discussed other issues such as the production of Iranian goods in Syria, including tractors and agricultural machinery, raising customs duties, increasing exports, and customs-related issues.

The end of the war in Syria is the beginning of a new era of economic relations between Tehran and Damascus, especially since Iran and Syria stood by each other during the years of the war on international terrorism.

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