Iran aims to expand economic ties with Syria

In the first month of the new year, Iran made every effort to expand economic ties with Syria. Dozens of trade and industrial delegations were sent to the country to discuss ways to develop cooperation between the two states. According to Iranian representatives, at the moment bilateral relations and trade are at a low level. 

However, Farzad Pilten, director general of Iran's trade facilitation department in Arab and African countries, notes that the share of Iranian goods in the Syrian market continues to grow. Their number currently does not exceed 3% of the total market and has almost no representation in the building materials market. 

Turkey occupies the first place in terms of the number of exports to Syria - the country's goods account for 38% of the market. In second place is China (20%), Egypt is the third country in terms of the share of exports (7%). This is followed by Russia (4%), India and Lebanon, supplying approximately 3% of all goods to the Syrian market. 

Regarding Iranian investments in Syria, it is assumed that the state will again begin to support the Syrian regime. Iran has already prepared several projects for the development of roads and infrastructure, transport and basic services. However, time is required for their coordination and discussion with the Syrian side. And in the light of Russian-Iranian competition in Syria, preference may be given to the second side. 

Meanwhile, Moscow and Tehran are to reach an agreement this year on the "division" of the Syrian economy. It is assumed that Russia will invest in the gas industry and phosphate mining, as well as in the development of ports, while Iran will be able to develop and invest in industrial and infrastructure projects, as well as in real estate.