The Syrian PM said:
“The Russian side has responded to the idea of restoring [Syrian] infrastructure. Therefore, a lot of deals were signed, including $675 million and $280 million agreements,”
“Despite all the things Syria has undergone, it has managed to maintain the infrastructure. However, the production of electricity depends on fuel, and the oil sector has been more affected by terrorism than the electricity sector,”
“Syria has geographical advantages, making it capable of becoming a developed commercial and industrial center for Russian companies in Middle East markets.”
The move by Russia to rebuild Syria is markedly different to how the West reacts in a post-intervention state. After turning Libya into a failed state with a ‘humanitarian intervention‘, the West is proposing to invade, not rebuild, the crumbling nation.
The deal most definitely marks a turning point for Syria, a nation that had only been concerned with eradicating terrorism up until this point.
While the conflict is by no means completely over, certain areas of the country can at last look forward to returning to normality – something that has been absent in Syria for the past five years.
Syria has offered Russia a chance to participate in exploring and developing oil and gas on land and offshore. In particular, Russia was invited to upgrade the Baniyas refinery and construct a refinery with Iran and Venezuela.
Damascus is also ready to discuss payment in national currencies with Russia. At the moment, Syria is negotiating a free trade zone with Russia, Belarus and Kazakhstan, if the treaty is signed and trade reaches a certain level, Damascus will then begin to pay in local currency.
Al-Halqi added Syria and Russia intend to open a bank to facilitate transfers between the countries. The bank would be controlled 50-50 by the countries’ central banks.
Speaking about Syrian exports to Russia, he said that in the first quarter of 2016 Syria sold more goods to Russia than in all of 2015.