October 10, 2017 – Fort Russ News – Paul Antonopoulos
The trade turnover between Russia and Syria soared 42% in seven months of 2017 year-on-year to $192.8 mln, Russia’s Deputy Prime Minister Dmitry Rogozin said at the 10th meeting of the permanent Russian-Syrian commission on trade, economic, scientific and technical cooperation on Tuesday according to TASS.
“The trade turnover between Russia and Syria increased almost 42% in January-July of 2017 compared with the same period last year to $192.8 mln, particularly, exports (from Russia) soared by more than 50% to $191 million,” he said.
Rogozin however highlighted that Syria’s exports only amount to around $2 million, bmostly because of the current war-time economy.
“This is mainly related to the lack of necessary infrastructure for exports and commissioning of local agriculture produce, which makes it economically unviable to supply Syrian vegetables and fruits,” he said.
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He however explained that there was plans to create a closed loop to grow, pack, store and export Syria-made vegetables and fruits to Russia in the near future.
Rogozin emphasized the important role that Russia will have in rebuilding the Syrian economy.
“We are now stating that time comes for economic restoration and expect that Russia’s business will take a most active part in this process,” the deputy prime minister said.
“Direct shipping line between Russian and Syrian ports is being created in parallel,” Rogozin said.
Paul Antonopoulos is a Research Fellow at the Center for Syncretic Studies. He has an MA in International Relations and is interested in Great Power Rivalry as well as the International Relations and Political Economy of the Middle East and Latin America.