Egypt, Syria Agree on Joint Business Forum

Egypt and Syria have agreed on mechanisms to implement cooperation in priority economic sectors, including forming technical working groups as soon as possible and holding a joint business forum to explore trade and investment opportunities between the two countries.

Second Government Meeting

The agreement was reached at the conclusion of the second intergovernmental meeting between the two countries, held in Damascus and chaired by Egyptian Deputy Foreign Minister Ehab Fahmy and Syrian Foreign Ministry advisor Mohammed al-Jafal, with participation from ministries and bodies concerned with the economy, trade, investment, energy, electricity, petroleum, gas, and free zones. The meeting reviewed the outcomes of the first intergovernmental meeting, held in Cairo on April 15.

Proposed Execution Mechanisms

According to a statement by Egypt's Foreign Ministry, both sides agreed on proposed execution mechanisms in this regard, including considering the formation of relevant technical working groups for priority sectors as soon as possible.

Joint Business Council

Both sides welcomed the completion of the Egyptian-Syrian Joint Business Council and its first session held on the sidelines of the second intergovernmental meeting. This followed a decision by Egyptian Investment Minister Mohamed Fareed on September 9 to appoint Egypt's representatives to the council for a three year term, after Syrian Economy and Industry Minister Mohammed Nidal al-Shaar issued a decision in May forming the Syrian side of the council.

According to local media, the Egyptian side includes representatives from economic and industrial sectors covering:

• Energy
• Contracting and construction
• Iron and steel
• Real estate development
• Food industries
• Pharmaceuticals and medical supplies
• Engineering, furniture, and consumer goods

Joint Business Forum

The two sides agreed on the importance of holding a joint business forum to discuss trade and investment opportunities and advance economic cooperation in priority sectors between the two countries, though no date for the forum has been set yet.

Background of Economic Ties

Two days before the intergovernmental meeting, Egyptian Foreign Minister Badr Abdelatty and his Syrian counterpart Asaad al-Shaibani met in Cairo on September 7 to discuss the development of Egyptian-Syrian relations and ways to strengthen bilateral cooperation in economic and trade fields. In August, Syrian diplomat Yahya Diab assumed his duties as chargé d'affaires of the Syrian mission in Cairo, following accreditation by Egyptian authorities.