Global Arab Network | Syria and Venezuela - Remarkable relations in various areas

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Syria and Venezuela - Remarkable relations in various areas

Sunday, 20 June 2010 21:01

Syria and Venezuela developed remarkable relations in various areas, particularly with regard to diplomatic relations, which started to take shape in 2000, and were further consolidated through the 2006 and 2009 visits of Venezuelan President Hugo Chavez to Syria, Imad Saab, the Venezuelan Ambassador in Damascus told Syrian state news agency.

Saab told SANA on Sunday that President Bashar al-Assad's upcoming visit to Venezuela and other Latin American countries has historical dimensions and reflects efforts of the free countries to speed up cooperation in their peoples' interests

Saab said that cooperation in the agricultural sector has stepped up notably as it is being now run directly between the Syrian and Venezuelan governments after having been handled by businessmen.

Syria has recently exported to Venezuela 5, 5 tons of olive oil, out of the 20 tons still to be exported, which were shipped on board the national Venezuelan airlines. This was the first cooperation at the official level.

The remaining amount of oil will be exported on 24th of June. The Ambassador said negotiations are underway to establish an olive oil factory in Syria funded by the Venezuelan government.

A number of agreements were signed between Syria and Venezuela which cover various fields of cooperation ranging between agriculture, trade, economy, media, tourism, transport and energy.

Saab referred to the standing cooperation between Syria, Venezuela, Iran and Malaysia for establishing an oil refinery in al-Forklos town, 40 km eastern of the central city of Homs.

Venezuela also has a plan to provide Syria with diesel and natural gas with favourable price. Preparation is going on to sign a technological, scientific and industrial agreement in order to provide the legal framework necessary to start industrial cooperation between Syria and Venezuela.

Syria and Venezuela recently formed a joint business council and a joint bank. A USD 100-million-financing fund was also founded, financed equally by the public sector in both countries and intended to provide financing for development investment projects.

A Syrian trade and tourism exhibition was established in the Venezuelan capital of Caracas to introduce businessmen to the investment opportunities available in Syria.

In examination of the trade balance between the two countries in 2008, Syria seems to have a surplus of SYP 147, 4 million (1 SYP is equivalent to about 46 USD) out of a trade exchange volume of SYP 182, 2 million, with the Syrian imports from Venezuela reaching SYP 17, 4 million while the exports amounting to SYP 164, 8 million. (SANA)

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