Syrian parliament approves Free Trade Agreement with Jordan

4 August 2005

The Syrian government approved a free trade agreement signed with Jordan.

Officials said the deal is aimed at developing economic cooperation and boost bilateral trade between the two countries.

At least 1,500 firms operate in Syria’s free trade zone and the volume of trade, including import and export, reached 350 million euros in the first six months of 2005, while investments attracted one billion 700 million euros last year.

Syria and Jordan adjusted the accord several times before finalizing the agreement.

Official media reports said that, after the last amendment, both sides immediately moved forward to ratify the agreement.

The government body responsible for Syria’s tax free zones has expressed its satisfaction over the increasing number of investors in the nine free trade zones in Syria and in the joint free trade areas with Turkey, Lebanon and Jordan.