Syria (IP) - The Head of the Iran-Syria Joint Commission of Economic Cooperation said the two countries reach an agreement to establish a joint bank and insurance company.

Iran PressMiddle East: At the formal invitation of the Syrian President Bashar al-Assad, Iran's President Ebrahim Raisi arrived in Damascus on Wednesday, May 3, 2023, heading top political, cultural, and economic delegations. 

The Comprehensive Program of Strategic and Long-Term Cooperation between the Islamic Republic of Iran and the Syrian Arab Republic and 14 other cooperation documents were signed by the Presidents and high officials of the two countries.

Mehrdad Bazrpash pointed to the 15 agreements signed between Iran and Syria and said that the documents would facilitate the economic activities between the two sides' businessmen. 

Based on one of the cooperation agreements, it was supposed that annually 5,000 Iranian pilgrims travel to Syria for visiting the holy places of the country, including the holy Shrine of Lady Zainab (SA), Imam Hussain's (AS) sister.  

As with the banking and insurance activities, it was agreed that until the establishment of the bank, an operating one from Iran and Syria is supposed to provide easy financial transactions in order to facilitate financial actions for businessmen.


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