The Syrian Ministry of Economy and Industry announced on Wednesday, July 15, the signing of a cooperation memorandum between the Federation of Syrian Chambers of Commerce and the Beirut and Mount Lebanon Chamber of Commerce, Industry and Agriculture during Syrian-Lebanese economic meetings in Damascus.
The meetings aimed to strengthen trade, investment, and economic cooperation between Syria and Lebanon.
The meetings took place during a visit to Damascus by Lebanese Minister of Economy and Trade Amer Bisat and his accompanying delegation.
Syrian President Ahmed al-Sharaa received Bisat on Tuesday in the presence of Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar.
The two sides discussed ways to strengthen economic and commercial cooperation and develop joint coordination mechanisms, according to the Syrian state news agency, SANA.
A joint Syrian-Lebanese roundtable was also held in Damascus, bringing together representatives of economic bodies and the private sector to discuss the development of commercial, economic, and investment cooperation between the two countries.
Al-Shaar said the discussions with the Lebanese delegation had laid the groundwork for practical cooperation in several sectors.
He added that the two sides were working to develop mechanisms for exchanging economic information and establish specialized centers to collect and analyze data, with the aim of supporting decision-making and improving economic efficiency.
Al-Shaar said work was also underway to finalize memoranda of understanding between the federations of chambers of commerce and industry in Syria and Lebanon.
He said the agreements would strengthen economic and investment cooperation during the coming period.
Lebanese Minister of Economy and Trade Amer Bisat said the Syrian-Lebanese Business Council would serve as a permanent platform for dialogue and for following up on joint initiatives.
He added that efforts were underway to remove trade barriers and facilitate the movement of businesspeople, which would support investment and strengthen the economic partnership between the two countries.
Memorandum Between Chambers of Commerce
The roundtable included the signing of two joint cooperation agreements, in addition to a cooperation memorandum between the Federation of Syrian Chambers of Commerce and the Beirut and Mount Lebanon Chamber of Commerce, Industry and Agriculture.
The memorandum provides for developing and encouraging cooperation in trade and various economic and industrial activities.
It also seeks to strengthen relations, communication, and professional ties among chamber members in both countries.
The memorandum calls for preparing programs and mechanisms to expand communication networks between members on both sides.
It also provides for exchanging information about available commercial opportunities, offering possible trade facilities to ease the conclusion of deals, and promoting joint economic events, according to SANA.
As part of discussions on investment opportunities between the two countries, Syrian Investment Authority Chairman Talal al-Hilali presented the reforms included in Investment Law No. 114 during a meeting with the Lebanese minister and his delegation.
Al-Hilali highlighted the law’s role in improving the investment environment, simplifying procedures, and strengthening legal guarantees for investors, according to the Syrian Investment Authority.
Syrian-Lebanese Business Council
Discussion of the Syrian-Lebanese Business Council forms part of efforts to strengthen communication between the private sectors of both countries.
Bisat said the council would provide a permanent platform for dialogue and for following up on joint initiatives.
On March 15, the Syrian Ministry of Economy and Industry established the Syrian side of the Syrian-Lebanese Business Council.
Under the ministry’s decision, Leila al-Samman was appointed chair, Ismail Afara and Riyad Abah Ji were appointed vice chairs, and Adib Basatneh was appointed executive director.
Syrian-Lebanese Economic Activity
The Lebanese economy minister’s visit to Damascus comes amid increased Syrian-Lebanese engagement in recent weeks.
During Syrian Foreign Minister Asaad al-Shaibani’s visit to Lebanon on July 2, the two sides signed an agreement establishing the Syrian-Lebanese Higher Committee.
The committee is intended to strengthen institutional cooperation and develop bilateral relations in various fields on the basis of mutual respect, good neighborly relations, and non-interference in internal affairs.
Economic, Not Military, Links
Syrian President Ahmed al-Sharaa said Syria was seeking economic links with Lebanon rather than military ones, stressing that Syria’s role in Lebanon should be positive and serve the interests of both countries.
In an interview with Al Mashhad television in June, al-Sharaa said Beirut had historically served as Damascus’s maritime gateway, while Tripoli had served as Homs’s maritime gateway.
Al-Sharaa said Syria had begun to emerge as a strategic link between East and West.
He added that the Mediterranean coast had become highly important to supply and distribution chains.
He said relations between Syria and Lebanon should begin with areas of agreement rather than disagreement, and that Lebanon should benefit from Syria.
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