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Syria and Turkey Prepare Comprehensive Economic Partnership Agreement

Damascus, April 18 (Prensa Latina) Turkish Trade Minister Ömer Bolat revealed today that Damascus and Ankara intend to negotiate a comprehensive economic partnership agreement.

Speaking to reporters after concluding his visit to the Levantine nation, Bolat noted that the Turkish delegation met with senior Syrian officials, including Economy Minister Nidal Al-Shaar, Finance Minister Mohammed Yasser Barniyeh, and Transport Minister Yarob Badr.

The minister specified that the two parties expressed their willingness to cooperate in all areas, increasing trade and joint investments, improving infrastructure and the energy sector, as well as increasing coordination and collaboration regarding transportation and land and sea routes.

We will move forward quickly on issues such as investment promotion and protection, the prevention of double taxation, banking cooperation, and the opening of Turkish banks in Syria, he stated.

He explained that the Turkish government seeks to support the new administration of the neighboring country, because the stability, strength, and unity of Syria mean the stability and strength of Turkey.

We will stand with Damascus in eliminating the problem of terrorism, significantly reducing the migration problem, ensuring easy access to the Arabian Gulf through direct land routes, and increasing trade between us, the Minister said.

According to the official, the talks addressed the gradual reduction of customs duties between the two countries, encouraging joint investments, the rehabilitation of damaged industrial zones in Syria, and the identification of areas in need of repair and maintenance in the transportation infrastructure.

He added that both sides agreed to renegotiate the investment promotion and protection agreement to attract foreign investment, and announced their willingness to negotiate an agreement to avoid double taxation in Syria.

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