The economic boom of the region and the defeat of American sanctions with the return of Syria to the Arab League
According to the report of the International Economic Group of Fars News Agency, the economic sector of Syria is eagerly waiting for the new political scene of this country with the return to the Arab Union, and the Syrian people also hope that the new political developments will have positive consequences on the economy of their country, that too after the economic sanctions. Unfairly, the West has put their livelihood in trouble.
In this regard, the official Syrian news agency (SANA) reported that the meeting of the senior officials of the Economic and Social Council of the Arab League was held on Sunday (May 14, 2023 equal to May 24, 1402) in Jeddah with the presence of the Syrian delegation.
This meeting was held in order to prepare for the summit of the Arab countries on May 19th of this month in Saudi Arabia.
Rania Ahmed, assistant minister of economy and foreign trade in international affairs of Syria, headed the Syrian delegation at the Jeddah meeting on Sunday, in which she emphasized: Damascus attaches great importance to the return of war refugees to their cities and homes, and this requires Revival of economic movement in their residential areas by encouraging the creation of small and medium enterprises in various sectors.
He also added: We want to take action to remove tariff and non-tariff restrictions on the movement of regional trade, in such a way as to increase the role of the large Arab free trade zone in Arab economic development.
The heads of delegations participating in this meeting, including Saudi Arabia, Libya, Iraq, Morocco and Oman, and the Assistant Secretary General for Economic Affairs of the General Secretariat of the Arab League welcomed Syria’s presence in these meetings.
Abdul Mohsen Saad Khalaf from Saudi Arabia and the chairman of this meeting also emphasized the importance of the economic integration of the Arab countries to expand the margin of flexibility in facing challenges and dangers and said: Decisions should be made with everyone’s efforts to advance the Arab economic cooperation, somehow. which will help advance Arab joint action.
Mohammad Samer Khalil, Minister of Economy and Foreign Trade of Syria, who has gone to Jeddah at the head of this economic delegation, will head the Syrian delegation at the meetings of the Economic and Social Council of the Arab League at the ministerial level today, Monday, May 15th.
“Mohammed Rabi Qalachi, the head of the budget committee in the Syrian parliament, in an interview with Sputnik, called the return of Arab countries’ relations with Syria beneficial for both sides and added: “But the signed Arab agreements should be reviewed, because most of them are more than 10 It was signed last year and has lost its importance due to the changing conditions.
Qala Chi described the impact of the relations between Damascus and the Arabs on the economy of Greater Syria and said: the increase in the production cycle and the doubling of investments and commercial exchanges between Syria and the Arab countries, especially in the matter of the reconstruction of Syria, will be among these positive effects.
This member of the Syrian Parliament, pointing out that many large Arab projects in Syria are currently suspended, said: If the implementation of these projects resumes, it will have positive effects on the country and the entire region, and the electricity connection project related to electricity transmission. Jordan to Lebanon through Syria or even the Egyptian gas transfer project through Jordan and Syrian lands to Lebanon are examples of these projects.
He emphasized: These projects will open economic horizons and curb the American economic sanctions.
Abolition of sanctions
According to Al-Watan report, Ali Al-Mohammed, an economic expert, referring to the importance of Syria’s return to the Arab League with the efforts of the allies, said: in the midst of a complicated economic situation, Damascus is trying to get out of the bottlenecks that continued due to the destruction caused by the war. to be
In his remarks, he pointed out that the Syrian government is working on the preparation of the reconstruction plan and added: But as we know, this action is very costly and requires more capabilities than the Syrian government has. Therefore, this country needs Arab investments to activate economic relations and attract Arab investors and create job opportunities.
This Syrian economist said: Syria’s return to the Arab League will be accompanied by the cancellation of some Arab countries’ sanctions against agreements that include trade exchanges with the Syrian government and blocking its bank accounts in some Arab countries.
Stating that the lifting of sanctions will have a positive effect on the Syrian economy, Qalachi said: “This will help Syria’s ability to increase trade with Arab countries by increasing its exports, and its ability to produce, activate the trade balance, and respond to market demand.” raises
Benefits of free trade between Arab countries
This Syrian economist emphasized that free trade agreements have many benefits, such as removing barriers to trade exchanges between the members of this agreement and freeing trade, which leads to economic prosperity at the national and individual levels for the members.
Hassan Hazuri, one of the faculty members of the Faculty of Banking and Financial Sciences of Aleppo University, also says: Free trade agreements have many advantages that countries, by signing them, consider it their goal to eliminate obstacles on the way of commercial exchanges between the members of the agreements, in addition to Trade liberalization creates a state of economic well-being at both the national and individual levels of the member countries.
Hazuri added: Despite the change of strategic directions in favor of Syria, but to achieve strong economic progress, Syrians still face many challenges after regaining their seat in the Arab League.
Help rebuild Syria
CNN Economic also wrote: Syria’s return to the Arab League can have a positive effect on the country’s economy, which is waiting for support to rebuild the war that has been going on in this country since 2011 and caused heavy losses.
This media quoted Abu Bakr al-Dib, the adviser of the Arab Studies and Research Center: Syria’s return to the Arab Union will boost the economy of this country and the entire region, because investments and trade exchanges between Syria and Arab countries will double, especially in the field of Syrian reconstruction. .
In his remarks to CNN Economic, this economist said: Considering the natural wealth and huge human resources of the Syrian government, the return of diplomatic and commercial relations between this country and the Arab League can be beneficial for the Syrian and Arab parties.
Al-Dib explained that after more than ten years of war, Syria needs reconstruction and Arab investments in its economic arteries, which can create millions of jobs for Syrian and Arab people.
He emphasized that Egypt will be one of the main beneficiaries of this step in the long term by restarting its companies and returning Egyptian workers to Syria.
Sky News Arabic also quoted Ammar Al-Assad, Deputy Chairman of the Foreign Relations Committee of the Syrian Parliament, regarding the impact of the resumption of relations between Damascus and the Arab countries on the Syrian economy: Many agreements have already been concluded between Syria and the Arab countries, which will be implemented from now on. became.
He added: Arab countries should press Western countries to advance the case of Syrian reconstruction, especially the United States of America, to cancel unilateral measures against the Syrian people and companies should not be afraid to be present in Syria. Therefore, this Arab consensus can be reached to help lift the economic sanctions by returning Damascus to the Arab League.
In an interview with Sky News Arabic, Jordanian economic expert “Hossam Aish” also pointed out the possibility of the effect of the US Caesar Act on Syria’s economic relations with the Arab countries and said: “It seems that the United States cannot stand up to the Arab countries’ demand for trade with Syria, because of this.” Issues such as Syria being a transit station for trade or the completion of the electricity project between Egypt and Jordan through Syria or other Arab economic interactions will not face the obstacles related to Caesar’s law, and this Caesar’s law will be limited to large interactions in the field of energy and oil.
Arabs’ need for wheat and products produced in Syria
Ayman Samir, an international relations expert, predicting the prosperity of Syria’s export and import with the Arab countries in the coming period, said: In the situation that the factories of Aleppo are returning to their former prosperity and their manufactured goods are still needed by the Arab markets, exports From Syria to the Arab countries, it will provide good support to the Syrian economy, and also in the shadow of the war in Ukraine, when the Arab countries are facing a grain shortage, Syria, which was once considered the food basket of the Arab countries, can export wheat there.
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