Syrian-Russian talks to strengthen economic and financial cooperation

Moscow, SANA- Finance Minister, Kenan Yaghi held Saturday a meeting with his Russian counterpart Anton Siluanov in Saint Petersburg city, on the sidelines of the St. Petersburg International Economic Forum.

The meeting dealt with enhancing economic and financial cooperation between the two countries, as the two sides agreed to continue discussions on technical cooperation in the tax and customs fields, and to enhance cooperation in the banking and insurance sectors.

It was also agreed to expedite the signing of the draft memorandum of understanding between the Ministry of Economy and Foreign Trade and the Eurasian Economic Union, which will grant Syrian products preferential tax and customs advantages upon their entry into the Union countries.

In the banking field, they agreed to increase the number of bank accounts between Syrian and Russian banks, and to expand the use of the Russian Financial Settlement System (SPRS) as an alternative to the Western SWIFT system.

Two sides also discussed securing a set of proposals to secure the necessary funding for the projects agreed to be implemented in Syria, linked to the agreement to expand trade and economic cooperation between the two countries.

The meeting was attended by the Syrian Ambassador to the Russian Federation, Dr. Bashar Al-Jaafari, the Honorary Consul of St. Petersburg, Dr. Malaz Ghazi, and from the Russian side, Deputy Minister of Finance, Director of the State Debt Administration Denis.

Fedaa al-Rahai