Global Arab Network | Saudi, Syria to strengthen relations and boost investment

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Saudi, Syria to strengthen relations and boost investment

Global Arab Network - - Adam Turner

Thursday, 08 October 2009 20:27

Saudi Arabia and Syria agreed to improve political relations and boost trade and investment between the two regional powerhouses, as the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud of Saudi Arabia wrapped up a visit to Syria, state news SANA reported.

Syria Finance Minister Mohammed al-Hussein and his Saudi counterpart, Ibrahim Assaf, said the volume of trade, now only two billion dollars (1.4 billion euros) a year, will "begin growing in the coming days," SANA said.

"We have decided to remove the difficulties hindering commercial exchanges, notably the taxes recently imposed by Syria on products exported to Saudi Arabia," such as olive oil and ceramics, Hussein was quoted as saying.

For his part, Assaf spoke of King Abdullah's visit, his first since acceding to the throne in 2005, as "very important for strengthening economic relations" between the two countries.

On Wednesday, the king and Assad agreed to "remove the obstacles" to closer ties between the two powerhouses long at odds.

The two leaders underlined their "commitment to pursue coordination and consultations at all levels on matters that interest both peoples," SANA said, and want to "remove the obstacles that have hindered their relations."

King Abdullah and President al-Assad underlined the need to take steps that keep the Arab legitimate rights and hunt all criminal acts and practices against them which violate all international laws and conventions.

During the meeting, the two sides stressed the importance of developing the Arab-Arab relations and continuing the exerted efforts in order to boost the Arab joint action in the interest of the Arab nation and its just issues, particularly because all world countries seek regional blocs to give their position a significance on international arena, whereas the Arabs still suffer from division.

President al-Assad and King Abdullah underlined keenness to continue coordination and cooperation between the two countries in all domains on issues and files that concern the two brotherly countries, particularly because the promotion of the Syrian-Saudi relations will be positively reflected on the Arab issues.

in the presence of President al-Assad and King Abdullah, an agreement on avoiding double taxation and preventing tax evasion for income and capital was signed between Syria and Saudi Arabia.

President al-Assad awarded King Abdullah the Umayya National Medal, which is the highest and most prestigious medal in Syria.

In turn, the Custodian of the Two Holy Mosques awarded President al-Assad with King Abdulaziz Medal, which is the highest and most prestigious medal in Saudi Arabia. (AFP, SANA)

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