Syrian-Saudi Talks to Enhance Fiscal Policies for Trade and Investment Development

Syrian Finance Minister Mohammad Yasser Baruni held talks with a delegation from the Saudi Export Development Authority, led by its Deputy Chief Executive Officer, Saud Al-Qubalan, and several representatives of Saudi companies, to explore ways to enhance fiscal policies fostering trade and investment between the two countries. According to the Syrian Arab News Agency (SANA), the ministry stated on its Telegram channel on Saturday that Minister Baruni emphasized Syria’s appreciation for the support and cooperation provided by Saudi Arabia during the meeting, which took place at the ministry’s headquarters in Damascus.

Baruni highlighted the importance of leveraging Saudi expertise and experience, particularly regarding incentives and fiscal measures to boost exports, build capacity, transfer knowledge, and develop market management tools. He stressed the need to strengthen incentives and refine policies to empower the private sector and expand business operations between the two countries, given the promising opportunities for cooperation and investment in several sectors.

At the conclusion of the meeting, the Saudi Export Development Authority delegation held discussions with various departments within the Ministry of Finance to examine areas of joint cooperation. According to SANA, these meetings with the authority are part of efforts to enhance commercial and investment ties and develop exports. This follows a meeting on the 7th of the current month between Minister of Economy and Industry Nidal Al-Shaar and representatives of the Saudi Export Development Authority, during which they discussed ways to develop joint cooperation in export development and exchange expertise and knowledge, thereby strengthening export capacities and opening new markets for Syrian and Saudi products.