Thursday, January 20, 2022

Finally, Syria and Iran Agree to Open a Joint Bank to Bypass Western Blockade

The two long-time allies, Syria and Iran, finally agreed to open a joint bank and a number of branches in both countries to facilitate their bilateral trade and money exchange, the agreement was reached during a visiting Iranian delegation.

Syria and Iran to Open a Joint Bank for Bilateral Trade, Finally

The Iranian economic delegation visiting Damascus was chaired by Iran's minister for roads and urban developments, the two countries also agreed to open a number of free trade zones and to increase the production of Iranian products in Syrian factories, Iran would benefit from Syria's access to the Mediterranean reducing its trade route significantly.

Despite having 4-decades strong relations, and despite both countries being under a blockade imposed on them by a US-led consortium of US stooges, Iran remains among Syria's least trade partners in volumes lagging way below some of Syria's outspoken enemies! The same goes for Russia whose trade with Syria including the weapons sale remains the 3rd behind China and Lebanon amounting to 6% of Syria's foreign trade.

Syria and Iran have previously forged a number of economic agreements which were stalled mainly by the Iranian former 'reformist' government's lack of initiative who were promised free trade with the west once they sign the nuclear deal dubbed the JCPOA, they shouldn't have trusted the west and should have strengthened their relations with their own long-standing allies instead, now they're realizing this and hopefully they'll fix this short-sighted policy.

More in this report: Syria and Iran to Open a Joint Bank for Bilateral Trade, Finally!

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