LOC12:26
09:26 GMT
DAMASCUS, Feb 5 (KUNA) -- The Syrian-Iraqi transport and communication
committee agreed that each state is to function as transit portal for the
other's imports, both destined for the local market or regional outlets, and
to facilitate transit of goods by sea between the two nations.
The agreement was reached at conclusion of the meeting held in the Syrian
capital, and followed discussion of bolstering cooperation and implementing
agreements.
In the field of air transport, the agreement stated upon the cancelation of
bank guarantees for payment of land services. In terms of land transport, it
stated upon increase of traffic volume through existing crossing points, as
well as on coordination and drafting of a mechanism to facilitate rail
transport. It also stated on setting a date for official announcement of a
rail connection point before the end of February.
Concerning motorway traffic, the two sides agreed upon equal volume of
traffic of goods in either direction, as well as on discussion and
consideration of specific transit routes. The two sides also agreed on follow
up meetings in Baghdad later this month to finalize the recommendations and
resolutions of the joint ministerial committee, including those relating to
setting up joint free trade zones.
Iraq is Syria's top trade partner, most specifically in terms of export
destination.
Iraqi sources had recently declared the value of Syrian exports to the
country at over five billion US dollars, with a forecast of increase to seven
billion in 2012.(end)
tk.wsa
KUNA 051226 Feb 12NNNN