An Omani trade delegation recently visited the Syrian Arab Republic and the Lebanese Republic and held meetings with a number of officials in the Chambers of Commerce, Industry and Agriculture, as well as service ministries in the respective countries. The delegation was headed by Qais bin Mohammed al Yousef, Chairman of Oman Chamber of Commerce and Industry (OCCI) and included a group of officials at OCCI. They attended the inauguration of the 61st Session of the Damascus International Fair alongside a number of Arab and foreign countries.
The current session saw the largest participation in the fair’s history since 1954. The Sultanate’s pavilion included 15 Omani companies and institutions operating in the industrial, agricultural, mining, social and other sectors.
The main target of the Omani participation was to promote Omani products as well as explore opportunities for contracts and deals with Syrian companies specialising in reconstruction. Amid threats of sanctions, the Syrians stressed that the fair represents a message of peace with all countries and a commitment to rebuilding Syria with their own hands.
Imad Khamis, Syrian Prime Minister, warned in the opening speech of the fair that the war also amounted to “economic terrorism” which the Syrian people would defeat as the government strives to revive the devastated economy. The Syrian government has started implementing hundreds of development projects in the provinces and restructuring the role of state institutions, while welcoming the development of joint projects, reconstruction, and attractive investment opportunities in line with economic cooperation with the world. The fair showcased a myriad of Arab and foreign industries alongside Syrian products, making it the largest fair in terms of size in its history. Meanwhile, Syrians hope that this session will achieve the desired goals in communication, exchange of products, signing contracts, and investment opportunities in Syria.
The Omani delegation was briefed on the laws and regulations related to investment in Syria during its visit to Adra Industrial City that stood in the face of attacks that had destroyed a number of Syrian factories in an attempt to halt Syria’s industrial and economic growth. Officials at Adra stressed the importance of existing relations between the two countries as well as that of Adra in connecting three nearby Arab countries: Iraq, Jordan and Lebanon.
They also noted the need to continue and strengthen industrial cooperation with the Sultanate in the reconstruction period, and take part in the rehabilitation of economic and industrial sectors affected by war and benefit from Omani experiences in this respect.
Current Syrian investment legislation considers Arab investors as their Syrian counterparts, while the Syrian government is working on amending the investment law to be issued by the end of this year.
As for industrial integration, it exists in this country, which is also seeking to develop the business system, in addition to the development of the information technology and automation sectors. There is also emphasis that the new investment law will provide more facilities and incentives for industrialists to accelerate the development of the industrial sector.
Syria is strategically located, linking several Arab countries next to Turkey and overlooking the Mediterranean Sea, as well as being open to EU countries. It encompasses diverse wealth, with abundant agricultural and touristic components, along with industrial and production companies utilising the countries raw materials, not to mention the presence of qualified human resources in some sectors.
Today, Syria believes that it is capable of defeating terrorism. It is a country with a strong, diversified and integrated economy, a strong sense of national belonging, along with its competencies and expertise, which have all contributed to thwarting the political, military and economic plots, including the unjust economic blockade, being waged against the nation. Nevertheless, it works to secure the needs of its people and to provide them with the basic goods and services.
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