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Finance & Banking | Global Arab Network
Turkish businessmen seek to establish joint banks in Syria
Global Arab Network - - Sarah Khan
Syria (Damascus) - Turkish businessmen on Thursday expressed interest in entering the Syrian banking market, and to take part in the efforts to establish private or joint banks with their Syrian counterparts.

In the presence of a Turkish banks delegation including representatives of the Turkish Agriculture Bank, Akbank and the Kuwaiti-Turkish bank, Finance Minister Mohammad al-Hussein and his Turkish counterpart Mehmet Simsek discussed the measures to set up Syrian-Turkish banks in Syria.

During the meeting, al-Hussein reviewed the regulating laws on establishing private banks in Syria and the chances of success for the Syrian-Turkish banks in the Syrian banking market to help consolidate the growing economic and financial relations between the two countries.

For his part, Minister Simsek called upon the Turkish banks to have a foothold in the Syrian banking market to enhance the progress of the bilateral economic relations.

The two sides agreed that the Turkish banks carry on with economic feasibility studies to pave the way for entering the Syrian banking market.

In the same context, the two Ministers chaired the Forum of the Syrian-Turkish Businessmen Council and listened to suggestions for means to increase reciprocal investments in both countries.

Minister al-Hussein expressed hope that the meeting will give a momentum to the economic and trade cooperation, smoothing out difficulties hindering the Syrian-Turkish cooperation.

"Syria is ready to establish insurance banks and companies with Turkey to keep pace with the Syrian-Turkish economic relations which are gathering momentum," al-Hussein added.

Simsek stressed the importance of the forum to explore investment opportunities, develop trade cooperation and engage the private sector in carrying out more joint investments.

He hailed the economic developments and reforms in Syria in the field of foreign trade, and its openness to world economies, underling the importance of developing bilateral relations in various fields. (SANA)

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