Iran-Syria-Saeedi Kia
Iran's Minister of Housing and Urban Development, Mohammad Saeedi-Kia is going to visit Syria next Monday.

Morteza Mortazavi in charge of economic and commercial affairs for the Embassy of the Islamic Republic of Iran in Syria noted that Saeedi-Kia is scheduled to participate in Tehran-Damascus joint commission in Syria.

Mortezavi said that establishment of the Iran-Syria joint bank have put on the agenda of the meeting.

Saeedi-Kia and Syrian Minister of Trade and Economy Amer Hossni Lotfi will hold talk on issues of mutual interest.

Earlier, chairman of the Iran-Syria Joint Chamber of Commerce noted that that the Tehran and Damascus have come to terms for setting up joint bank and insurance institutions.

Hassan Javad added that the joint bank will be furnished with dlrs 30 million, of which the two countries will provide dlrs 10 million each, indicating that the rest dlrs 10 million will be secured through issuing bonds.

The joint insurance institution's capital will be dlrs five million, of which the two countries will provide dlrs 1.5 million each and the rest dlrs 2 million will be secured through issuing bonds.

"Iran-Syria Joint Chamber of Commerce planned to augment trade to dlrs 800 million from the current dlrs 200 million," he said.

The Syrian officials have called for more cooperation of the private sector for expansion of the bilateral economic relations.

Currently, Iran has several industrial projects underway in Syria including cement factories, car assembly lines, power plants, and construction of silo.

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