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News > Iran

Syria and Iran Agree to Establish Joint Bank, Free Trade Zones

  • Iran, Syria to set up joint bank and free trade zones: Minister.

    Iran, Syria to set up joint bank and free trade zones: Minister. | Photo: Twitter @spriter99880

Published 15 January 2022

Iran and Syria agreed on establishing a joint bank and free trades zones and increasing the production of Iranian goods in Syria.

Iran’s Road and Urban Development Minister Rostam Qasemi announced that Tehran and Damascus have agreed on establishing a joint bank with various branches in addition to joint free trade zones.


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In a statement, Qasemi confirmed that he had met with Syrian President Bashar Al-Assad and discussed the Syrian economy.

The Iranian minister also mentioned that he met with Syrian Foreign Minister Faisal Mekdad, where the two agreed to establish a joint bank between Syria and Iran.

In addition, Qasemi agreed with his Syrian counterpart that top aviation officials of both countries must meet to discuss administrative issues in air transport.

The Iranian diplomat signed agreements with the Syrian Economy Minister to establish a joint free zone between the two countries.

During his fruitful visit to Damascus, Qasemi, who chairs the Syrian-Iranian Joint Economic Committee on the Iranian side, mentioned that he discussed with Syrian officials about producing Iranian goods in Syria, including tractors and agricultural machinery, as well as removing tariffs and increasing exports.

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