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Syrian minister highlights positive impact of freezing sanctions

Damascus, May 25 (Prensa Latina) Syrian Economy and Industry Minister Mohammad Nidal al-Shaar described the freezing of sanctions imposed on Syria by the United States and the European Union (EU) as a transcendental event.

Al-Shaar told SANA news agency that such actions will have a deep positive impact on the development of the Syrian economy and its ability to link up with global economies.

The minister explained that the removal of these restrictions will generate significant repercussions in the banking and trade sectors.

Among the direct benefits, he highlighted facilitating financial transfers, a substantial improvement in the supply of basic materials, and a significant reduction in transportation and import costs.

He said this initiative accounts for a crucial step in attracting both Syrian and foreign capital to invest and operate in the country.

Al-Shaar noted that Syria is emerging as an attractive investment destination for most international companies after decades of isolation.

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