The country ranks first in the Arab world and third in the world as the most important trading partner for Syria

One billion dirhams of non-oil trade between the UAE and Syria in the first half

Bin Touq during his meeting with the Syrian Minister of Economy and Foreign Trade.

From the source

The Minister of Economy, Abdullah bin Touq Al-Marri, said that the UAE is the most important trading partner of Syria at the global level, as it ranks first in the Arab world and third globally, while accounting for more than 14% of Syria's foreign trade, explaining that the volume of non-oil trade exchange between the two countries It amounted to about 2.6 billion dirhams last year, while it reached about one billion dirhams, during the first half of this year, while the value of Syrian direct investment in the UAE exceeded 1.5 billion dirhams at the end of 2019.

This came during Bin Touq's meeting with the Syrian Minister of Economy and Foreign Trade, Muhammad Samer Khalil, on the sidelines of the "Expo 2020 Dubai" exhibition. .

Action plans

The Ministry of Economy stated in a statement yesterday that the two sides approved action plans to create new paths for economic integration and develop exchange in some important common sectors. They also agreed on future plans for joint action during the next stage to enhance the flow of trade.

continuous growth

The two sides also discussed the economic challenges facing Syria at the present time and ways to overcome them, and they discussed the possibility of reaching new levels of cooperation in the economic and investment aspect.

Bin Touq pointed out that the partnership between the two countries in the economic fields is witnessing continuous growth, which reflects the strength and durability of the Emirati-Syrian partnership at various levels, expressing his hope during the next stage to develop relations to achieve higher rates of partnership, in a manner that meets the aspirations of the two countries and their economic potential, and to benefit from New opportunities, especially by investing in vital and future sectors.

For his part, Khalil stressed the strength of the Syrian-Emirati relations, and his country's keenness to expand economic cooperation relations between the two countries in all areas of common interest, and to develop investment partnerships between the private sector in the two countries, focusing on the small and medium enterprises sector, which is a major driver and main supporter of the economy. the two countries.

• The UAE accounts for 14% of Syria's foreign trade.

• 1.5 billion dirhams of Syrian direct investment in the UAE by the end of 2019.

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