Saturday, November 27, 2010

President in Syria, to focus on economic ties and investment

  • After concluding a five-day goodwill tour of the oil-rich United Arab Emirates, President Pratibha Patil touched down at the historic city of Damascus on Friday morning.
  • The Syria visit, first by an Indian President, will focus on bilateral issues — political, economic and cultural — and exploration of investment opportunities in both countries, government sources said. On the regional and international fronts, the Middle East Peace Process (MEPP) and Syria's relations with its neighbours will figure in the President's discussions.
  • The sources said there was a strong possibility of a cultural agreement being signed between the two countries, as well as between Doordarshan and the Syrian national broadcaster, and one between the Press Trust of India and the official Syrian news agency. The India-Syria Business Council, which will be launched during Ms. Patil's visit, is expected to boost economic relations.
  • Unlike with the UAE, the two-way trade level with Syria stands at a modest $530 million. The Indo-Syrian Joint Commission, which met in June this year, has decided to work towards doubling trade shortly. The President's visit is expected to boost economic relations, identify areas of mutually beneficial cooperation and register Indian interest in sourcing phosphates, which will help in achieving food security.
  • Ms. Patil's meeting with President Assad will be followed by delegation-level talks which are expected to cover bilateral relations, regional issues such as the MEPP and international issues.

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