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President Pratibha Devisingh Patil of India said forming the Syrian-Indian Business
Council will add momentum to trade and economic cooperation between the two
countries.
President Devisingh Patil was speaking at the launching of the Syrian-Indian Business
Council on Sunday, which aims at boosting bilateral relations through benefiting from the
investment opportunities available in both countries.
She added that the Council will help handle obstacles facing free trade flow between the
two countries, referring to Syria's importance as a meeting point for trade men from the
east and west.
She indicated to the contribution of Indian companies to Syria's economic development
program in many fields, most importantly in the field of oil and electricity exploration
and production, using phosphate resources in Syria and helping upgrade the iron factory
in Hama.
The Indian President pointed out to the Center of Excellence for Information Technology,
under construction now, which she said will enhance the growth of information
technology sector in Syria.
She said the agreement signed between the Syrian and Indian Federations of Chambers
of Commerce and Industry will expand the business sector and economic cooperation
between the two countries.
Minister of Trade and Economy Lamia Assi invited Indian businessmen to make
investments in Syria according to the agreements signed which established the legal
structure for investment in the two countries.
Assi said that foreign direct investment in Syria grew in 2009 by eight times since 2003
and the gross domestic product increased by 6% between 2005 and 2009.
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