Syria and Canada discuss expanding economic ties and investment
Damascus, July 27 (SANA)Syrian Economy and Industry MinisterNidal al-Shaarmet Canada’s Ambassador to Syria and Lebanon,Gregory Galligan, on Monday to discuss expanding trade, investment and industrial cooperation, as the two countries move to expand economic ties following Canada’s decision earlier this year to ease sanctions on Syria.
According to the Ministry of Economy and Industry, the meeting focused on investment opportunities in Syria and ways to deepen commercial and industrial partnerships to support mutual economic interests.
Al-Shaar said the government is working to build broader international economic partnerships and improve the investment climate as part of efforts to support Syria’s economic recovery.
Galligan expressed Canada’s interest in expandingeconomic cooperationwith Syria and exploring opportunities for future joint initiatives, the ministry said.
The meeting forms part of Syria’s broader effort to attract foreign investment, strengthen trade partnerships and increase engagement with international markets.
The talks follow Canada’s decision in February to substantially ease economic sanctions imposed on Syria since 2011.
On Feb. 19,Ottawaamended the Syrian Economic Measures Regulations, ending the comprehensive economic embargo introduced in May 2011. The changes lifted broad restrictions on trade in goods and services, investment, financial transactions, and activities related to the oil and telecommunications sectors.
Canada also removed 24 entities and one individual from its sanctions list, saying the measures were intended to reduce barriers to legitimate economic activity and facilitate transactions with state-affiliated institutions in sectors considered essential to Syria’s recovery.