Iranian companies ready to reconstruct Syria: top MP

November 13, 2019 - 20:41

TEHRAN – Chairman of the Majlis National Security and Foreign Policy Committee Mojtaba Zonnour has underscored Iran’s readiness to help with Syria’s reconstruction.

“Reconstruction of Syria’s infrastructures at this juncture is necessary and Iranian companies are prepared for economic interactions with Syria during the reconstruction period,” Zonnour said at a meeting with Syrian Parliament Speaker Hamoudeh Sabbaq in Damascus on Wednesday.

The top MP also stressed that Tehran views support for the resistance front as its responsibility and will remain by Syria’s side in the fight against terrorist groups, Fars reported.

For his part, Sabbaq thanked Iran’s full-fledged support for the Syrian government and nation, saying the Iranian military advisors’ sacrifices beside the Syrian army led to Syria’s victory against the terrorists.

The conflict in Syria began in 2011, taking a heavy toll on its infrastructure. The UN estimates the cost of the country’s reconstruction at 250 billion dollars. Currently, Iran is active in a range of economic sectors in Syria, from transport to energy and engineering.

Syria is one of Iran’s strategic regional allies. However, despite their high level of political ties, both sides agree that bilateral trade between Tehran and Damascus is too low, and that there’s a need to keep the balance between their political and economic partnership.

The total trade volume between Iran and Syria was around $80 million in the last six months. Before the war began in Syria, the figure stood at over one and a half billion dollars. This means that the conflict has been a hurdle in the way of trade between the two allies. But, it’s not the only problem. The current U.S. sanctions against Iran’s banking sector is blamed too. 

Last year, Iran and Syria launched their first joint chamber of commerce. Iran has also opened a trade center in Damascus to facilitate the activities of its firms in Syria. Officials believe with all obstacles removed, the total annual trade between Tehran and Damascus would increase by 25-fold to hit at least 2 billion dollars.