By Emad Al-Askar
(with photos) DAMASCUS, Dec 24 (KUNA) -- Syrian Minister of Transportation, Yarub Sulayman Badr, expressed hope Wednesday that the upcoming Arab Economic Summit, due in Kuwait on January 19-20, would bear the fruits of success.
In a statement to Kuwait News Agency (KUNA), Badr expressed his aspiration that the summit would name a number of economic and social development ventures, namely railways projects.
The Syrian official said that the railways project had already been presented to Arab Council of Transportation Ministers.
"If we look at the distance that separates the capitals of Arab countries, we will find all the reasons why this project is worth establishing," he added.
The Arab Fund for Economic and Social Development (AFESD), Kuwait Fund for Arab Economic Development (KFAED) and other funds and development bodies could support establishing the venture, he added.
Badr pointed out that Syria had the densest railway network in the Arab world, noting that his country was working on its railways network in accordance to local schemes.
The project is meant to connect the Province of Deer Al-Zour, and the Al-Bukamal city.
Such a project would vitalize commercial trade between Syria and Iraq, and reduce the prices of goods exported from the Syrian ports.
The Syrian minister said the project would be executed in 2010, noting that there was a similar plan to connect Damascus with the Jordanian capital, Amman.
He said that during the Arab Council of Transportation Ministers meeting, the ministers found out that Kuwait and Saudi Arabia had similar interests in railways projects to connect the two countries.
Building a successful Arab railway network would revive goods' transportation activities, reduce prices, open greater commercial horizons along the Mediterranean shores and Gulf countries, he said, noting the possible economic feasibility for Gulf states when it came to European and US goods.
Badr said that after conducting a comprehensive study of the project's necessary infrastructure, it would be run by Arab and non-Arab investors, stressing on the role of private sector in Arab countries in running such ventures.
As of the impact of the world financial crisis on the Syrian transportation sector, Badr said that his country had not yet experienced severe impact, noting that Syria's financial bodies and infrastructure were not strongly linked to the European and US markets.
However, there are indications saying that Syrian maritime transport began to suffer from the repercussions of the world economic crisis, he added.
"The International Air Transport Association (IATA) highlighted a noticeable reduction in travel activities in the past couple of months, which caused severe losses to many airliners," he said.
The Syrian Transportation Ministry is planning to establish two highways through BOT, the first of which will stretch from the northern Turkish boarders to the Jordanian southern borders, while the second will be from Port of Tartous to the Iraqi borders.
Meanwhile, Syria International Airport is witnessing huge renovations and expansion so as to receive 3.5 million passengers per year. (end) ek.sab KUNA 241004 Dec 08NNNN