Iran, Syria sign comprehensive deal on enhancing economic cooperation

TEHRAN, April 27 (Xinhua) -- Iran and Syria on Thursday signed a comprehensive memorandum of understanding (MoU) on enhancing cooperation in various sectors, the semi-official Fars news agency reported.

The MoU was signed by Iranian Roads and Urban Development Minister Mehrdad Bazrpash and Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil, as the co-chairs of the two countries' joint economic commission, at a ceremony in the Syrian capital Damascus, the report said.

Speaking to reporters on the sidelines of the ceremony, Bazrpash hailed the positive outcomes of his meetings with Khalil as well as Syrian Minister of Transport Zouhair Khazim, Prime Minister Hussein Arnous and President Bashar al-Assad.

Bazrpash said that, during his meetings with the Syrian officials, the two sides vowed to accelerate the development of bilateral economic relations.

The Iranian minister said the two countries agreed to expand cooperation in the energy sector, by reaching agreements in the field of investments in the electricity and oil sectors and forming joint technical working groups to implement them.

Other agreements were also reached in the fields of tourism, air, maritime and railroad transportation, cultural cooperation, reducing trade tariffs, investing in the Syrian oil and gas sector, as well as improving banking and insurance relations, he added.

Heading a high-ranking delegation, Bazrpash arrived in Syria on Tuesday for a visit aimed to improve Iran's economic ties with Syria.