Home Middle East Iran and Syria Strategic Cooperation Accord in Oil and Trades

Iran and Syria Strategic Cooperation Accord in Oil and Trades

On a visit paid by Iranian President Abrahim Rassi to Syria, the two countries signed a long-term strategic agreement of cooperation and the Memorandum of Understanding. Through this one-of-a-kind visit that came after a decade after the time of the war in Syria in 2011, both sides seek to establish long-term cooperation in oil and other sectors. To bolster economic ties among the nations, 15 cooperation documents were signed between them, which include an economic agreement that ranges from energy and oil to technical and engineering, rail and air transport, railways, a free trade zone, private sector cooperation, communication and information technology, earthquake and rescue operations, etc.

During the visit, the top officials and delegates working in oil, foreign affairs, defense, roads, and urban development accompanied them. The Iranian delegates, such as the Minister of Foreign Affairs, Minister of Defense, Oil, Road, and Union Development, as well as private sector businesses, accompanied them during the visit to pursue a long-term oil and trade agreement between them. Through this close cooperation, Iran can make long-term plans for linking the Syrian port of Lattakia in the Mediterranean Sea to build trade relations and also help Syria tide over its economic issues.

Iran has extended support to Syria to help them gain control over their economy. They have sent help in the form of military advisors, money, and equipment to help the Syrian government through difficult times. The Syrian government hopes to improve its financial condition and reconstruct its country through the normalization of its ties with Iran.

Another factor that indirectly facilitated this historic deal was the signing of historic agreements with other mutual partners such as Egypt, Saudi Arabia, and their foreign ministers in the past few months. IRENA calls the “Iranian President’s Visit to Syria Historic and Important in the Light of Changes and Development Taking Place in the Region.” This deal is beneficial for not only Tehran and Damascus but also for other countries in the region.