Ministry of Economy Establishes the Syrian-Canadian Business Council ...Syria

News by : (ُEnabbaladi) -

The Syrian Ministry of Economy and Industry announced the establishment of the Syrian-Canadian Business Council, as the Syrian government seeks to strengthen its partnerships with various countries worldwide to revive the economy following the lifting of sanctions imposed on Syria.

According to a statement published by the Ministry on Thursday, July 3, the Council will work to enhance and develop the business sector through economic and trade partnerships that serve the mutual interests of both countries.

The Council aims, according to the statement, to build bridges of economic cooperation, stimulate investment, and expand partnership horizons in various fields in a way that meets challenges, achieves sustainable development, and serves the homeland’s interest for both parties.

The statement clarified that the Council’s vision is to “achieve leadership in developing the business sector in Syria” by “adopting advanced and up-to-date approaches” to global challenges, contributing to providing an effective and attractive business environment. The Council aspires to strengthen economic, trade, and investment integration with Canada, including achieving Syria’s national interests and supporting sustainable development and inclusive growth.

Engagement with Companies

Osama Al-Taba’a, Vice President of the Syrian-Canadian Business Council, told Enab Baladi that the Council will contribute to enhancing communication with Canadian companies to participate in reconstruction efforts, noting that there are ongoing contacts with certain companies that cannot be disclosed at this time.

When asked about the commercial activities the Council will focus on, Al-Taba’a explained that all commercial activities are within the Council’s scope, with specialized committees for each sector. The Council is also in the process of forming legal, engineering, and other committees.

He added that the Council is based on laws governing councils in Syria and that there was no coordination with the Canadian government regarding its establishment.

Al-Taba’a also indicated that Council members have actively contributed to lifting Canadian sanctions on Syria and that their efforts continue to strengthen Syrian-Canadian participation. They are currently preparing an office for the Council, which will begin operations in Damascus.

Al-Taba’a emphasized the importance of the business sector’s contribution to Syria’s reconstruction through Canadian companies participating in rebuilding infrastructure, supporting agricultural, industrial, and commercial sectors, encouraging investments, and cooperating in sustainable development fields to serve the mutual interests of both countries.

Objectives

Minister of Economy and Industry Muhammad Nidal Al-Shi’ar described business councils in statements included in the announcement as the most important and powerful marketing tool for the new Syria.

The minister indicated that councils will soon be formed in sister and friendly countries like the United States to provide Syria with a marketing and promotional presence in those countries.

According to the statement, the Council will work in the coming period to enhance and develop the business sector through effective economic and trade partnerships serving the common interests of both countries. The Council enjoys legal personality, full financial and administrative independence, and operates under a solid charter organizing the work of joint councils with friendly countries.

Council Objectives:

Conduct economic and trade activities of public benefit that support economic and commercial cooperation between institutions and companies in Syria.

Introduce the laws and regulations related to economic, commercial, and investment activities in both countries to highlight all economic fields and activities in Syria.

Introduce Syrian public, private, and joint sector institutions and companies to their Canadian counterparts and encourage economic projects serving Syria’s developmental momentum.

Provide logistical certificates of all kinds between parties, including organizing reciprocal exhibitions, conferences, specialized seminars in all economic fields, and holding workshops and training sessions contributing to effective events.

Strengthen economic and trade cooperation between Syrian and Canadian institutions and companies through activities that serve the public interest and support economic growth and progress on both sides.

Raise awareness of economic, commercial, and investment laws and legislation applied in both countries.

Link Syrian institutions and companies (public, private, joint) with their Canadian counterparts and stimulate joint economic projects that meet Syria’s development requirements.

Provide logistical and technical support by organizing bilateral exhibitions, conferences, seminars, and specialized workshops.

Need for Foreign Partnerships

Regarding the necessity to reactivate joint business councils, businessman Abdul Hamid Al-Aqel told Enab Baladi earlier that Syria is rich with Syrian expertise and talents abroad who wish to participate in Syria’s reconstruction from outside. There is also significant interest among foreign companies to engage with the new Syrian situation.

Due to the absence of many embassies worldwide in Syria, these companies face challenges in accessing Syria. Therefore, joint business councils could play an effective role in this area by activating various partnerships.

From this perspective, Al-Aqel sees a need to activate Syrian-European business councils in several European cities to create a gateway for companies to enter the Syrian market economically and commercially.

Ministry of Economy Establishes the Syrian-Canadian Business Council Enab Baladi.

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