Syria: The Natural Gate of the Iraqi Economy

Iraq wounds to re-operate the oil pipeline which connects Kirkuk, the center of its oil industry, with the Syrian Banias seaport. The two countries have been discussing re-operating the -880 km- pipeline which was belt in the 1950’s of the past century, and which was bombarded by the US during its war against Iraq in 2003.
That was assigned of the beginning of instability represented by endless sabotage operations against the facilities of the infra-structure of oil industry. _ This has two meanings: the first is political represented by asserting the importance of the Syrian role in Iraq, and indicating that the political relations between the two countries have come back to their normal source.
The second is an economic one which indicates that Syria is the economic gate of Iraq to the sea and to its oil products. At the same time, Syria can get benefit from Iraq’s oil, and this means that there is a mutual economic interest for both countries in this respect. Moreover, it indicates that the American occupation of Iraq has not succeeded in destroying in this mutual interest at all.

Iran Buys Five Planes of “2-204” Model from Russia

The Russian “Iliouchine Finance Co.” company and the Iranian airlines company “Iran Air Tours” signed yesterday a contract of $200 m for providing Iran with five planes of “Tupolev-204” model.
The contract was signed on the sideline of the international exhibition for aerial and space technologies “MAKS-2007” which was opened at Joukovski city at Moscow suburb last Tuesday.

Trade Exchange between Iran and Azerbaijan to Rise to $1 billion

At the conclusion of his visit to Azerbaijan, the Iranian President Mahmoud Ahmadinejad told reporters that based on the concluded agreements and forming a team work between Tehran and Baku, the volume of trade exchange between the two countries will rise reaching $1 bn.
Ahmadinejad further said that has been decided to establish a joint company for investment and trade between the two countries, adding that the two countries have signed agreements in transportation field, as well as building a new dam between them to get benefit from water and electricity resulting from this project.

Algeria is granted a Deal for Oil and Gas Exploration in Mali

An official at the Algerian “Entreprise nationale de géophysique (ENAGEO)” said yesterday that the establishment has been granted a deal for exploring oil and gas at Taoudeni basin, in northern part of Mali.

Syria and Iraq Agree on Re-Operating Oil Pipeline between Kirkuk and Banias

Syria and Iraq have signed a number of economic agreements, according to the Syrian Al-Baath newspaper. Mr. Sufian al Alou Minister of Oil and Mineral Resources in Syria said that the two countries agreed on rehabilitating the crude oil pipeline connecting between Kirkuk and Banias, which have been closed since the US invasion on Iraq.

Syria Provides Three Arab Countries with Wheat from Its Strategic Storage

The Syrian news agency Sana said that Syria decided to provide Egypt, Jordan, and Yemen with 246.000 tons of wheat from its strategic storage for helping the three countries to address their needs.

The Palestinian Telecommunications minister Announces Readiness to Offer Services of Broad Band

The Palestinian Telecommunications Minister Kamal Hasouna, said that the second phase of rehabilitating the companies for offering the services of “Broad Band”, the internet, and a telecommunications through the internet protocol “VOIP” have been ended.

The Increase of the Number of Tourists by 16.5% in Turkey in July

Official statements said that the number of foreign visitors to Turkey has risen by 16.5% in July compared to the same period of last year, which reflects the strong performance of the Turkish tourist sector.

“International Financing Cooperation (IFC)” Buys Shares to “Capital Bank of Jordan”

“Capital Bank of Jordan” (Former “Export and Finance Bank) has announced that the “International Financial Corporation (IFC)” has become a strategic partner in the Bank, contributing by 7.01% of the bank’s capital.

“Commercial Bank of Kuwait” Sells its Share at “Bank of Bahrain and Kuwait”

Commercial Bank of Kuwait” is holding the last phase of discussion to sell its share at “Bank of Bahrain and Kuwait”. It is worth mentioning that the bank owns 20.17% of the Bahraini bank, according to the statements of the Kuwaiti stock markets.

Small Indexes

- Reuters said yesterday that Syria decided to provide Egypt, Jordan and Yemen with 276.000 tons of wheat from its strategic storage to help the three countries to address their needs.
- The volume of the French investments in Tunisia rose last year by 8.3% compared to 2005.
- The volume of the Algerian investments in the US have reached $43 bn according to the web site Everything About Algeria.
- The Australian “BHP Billiton” company, the biggest company in the world in the field of mining, said that it hit a report in terms of profits of 16.7 Australian dollars “$13.5 bn”.

Companies Indexes

- The Australian “BHP Billiton” company, the biggest company in the world in the field of mining, said that it hit a report in terms of profits of 16.7 Australian dollars “$13.5 bn”.
- The Chairman of the Russian “Tupolev” company said in a press conference held on the sideline of the international exhibition for aerial and space technologies “MAKS-2007” said that the company intends to operate 10% of world market for manufacturing plans by 2015 or 2018.
- The Turkish mass media announced that the Iranian “Samand” car will enter the Turkish markets starting from next week.

Bids & Contracts

- The Kuwaiti news agency Kuna said that 11 foreign companies expressed their wish to participate in an auction for selling a share of 26% of the company of mobile phones services established by the government.
- Wall Street Journal newspaper said that the international “Dubai World” company seeks to invest about $5 bn at the American “MGM Mirage”, the leading company in the fields of real estate development and hotels sector.

Exhibitions

- The International Energy Exhibition was opened yesterday at the International Exhibitions City in the Iranian city Zanjan, with the participation of 100 Iranian and foreign companies working in the fields of oil, gas, petrochemicals, electricity, renewable energies, and energy orientation sectors.

A Special Coverage of the Last Day of Damascus International Fair

Damascus International Fair has concluded the activities of its 45th session on Thursday, the 23nd, 2007, hosting hundreds of companies from 45 Arab and foreign countries. The number of exhibitors in the fair reached 4.182, among them 2.600 local exhibitors occupying a total space area of 7.758 square meters. Damascus International Fair for this year has become a city for exhibition and international markets for exchanging experiences, holding meetings, concluding deals and signing agreements, establishing regional and international unions, increasing the trade and information exchange, developing the promotional concept, and contributing in raising the average of economic growth rate.

Italy is Once Again at Damascus International Fair

Italy has come back to take part at Damascus International Fair in its 54th session occupying a big pavilion characterized by a distinctive decoration, and comprising more than 15 companies, many of them have Syrian clients, which reflect the special economic relations between Syria and Italy, in the since that Italy is one of the main economic partners of Syria in terms of importing and exporting, as the volume of trade exchange between the two countries has reached 1 billion and 400 million Euro in 2006.

“Om Pianta” company For Construction Materials

The company is specialized in importing construction materials, specially bath rooms, kitchens, and floor accessories. It also imports the Tunisian “Sese Ram” ceramic, the Tunisian “Ideal Center” bath rooms, the Italian “Atlas Concord” ceramic, and the Italian “Hateria” bath rooms.
The Director of the Department of Whole Sales and Projects at the company, Husam Nassar said that the company is keen to participate in every session of the fair to exhibit the latest world products and sell them to the local consumer.

Mohammad Hammal Establishment for Trade

It is the agent of 21 Italian company, specialized in carpenters’ accessories, and located in Aleppo. The company is taking part in the fair for the 17th time at Damascus International Fair. The company imports the most modern carpenting equipment from Italy. Mr. Mohammad Hammal, the owner of the company, says that the Italian machines are still dominating the Syrian market, although the Chinese and the Korean products entered the Syrian market four years ago, but the Italian machines are still the best because of its good quality.

“Sabagh & Shami” Company for Distribution

The company was established in 1949, gaining through its long history the trust of the big international companies. The company is specialized in distributing cosmetics and perfumes produced by the French “L’Oreal” company. The company is taking part at Damascus International Fair in the Italian pavilion as a representative of “Free & Perfectly” companies, which are foodstuff and consuming products.

The Syrian Company for Distributing the International Kinds of Products

The company has made itself public in the first day of Damascus International Fair, seizing the opportunity of the opening ceremony to announced the establishment of a new company and exhibiting its products imported directly from Italy, i.e. “Spaghetti Marella”. The other Italian agency, represented by the company is the foodstuff “Maximes” products. The sales manager at the company, Haitham Khalifa says that the Italian “Maximes” company is an international company that covers about 5000 times of foodstuff products, adding that it is a distinctive company in terms of high quality.

Jordan: The Biggest Participation

More than 20 companies have occupied about 500 square meters at Damascus International Fair. The Jordanian participation was very distinctive at this year’s session. The General Director of the Fair Mr. Imad al Zoubi underlined the importance of the Jordanian participation for this year, pointing out that there are many signed Syrian-Jordanian agreements in this respect, as well as agreements under discussion between the two countries. Mr. al Zoubi added that the agreement signed between the two countries four years ago has been renewed this year, asserting keenness by the Jordanian economic activities to participate in Damascus International Fair. For his part, the Jordanian Minister of Trade and Industry, Salem al Khazela, described the trade relations between Jordan and Syria as deeply-rooted and distinctive, underlined the importance of this fair, which 45 countries are taking part in it, ten of them are Arab countries and other 35 foreign countries. Indicators met the Director of the Jordanian Pavilion who said that the space area of the Jordanian pavilion is 521 square meters, adding that 22 Jordanian companies working in the sectors of chemical, textile, and library products are taking part in the fair.
These companies also produce products of cosmetics foodstuff products.

Nawraz Ismaiel Shukri Company “NISC”

It is a Jordanian company established 22 years ago. Its factory has been build 18 years ago located at the industrial “Al Sahab” area. The company works in perfume, cosmetics, and chemical materials sectors. Director of the Company Nawraz Shukri says that the company is very close to the Syrian market, adding that it exports its products to many countries like Russia, Ukraine, Saudi Arabia, Kuwait, Sudan, Lebanon and Iraq.

The Jordanian Chemical Industries Company “Hipex”

It is a joint-stock cooperation specialized in the industry of liquid cleaners only. It was established 35 years ago and it has been granted “ISO Certificate”. The company entered Yemen’s, Saudi Arabia’s, Sudan’s and Libya’s markets, and seeking to enter the Syrian market through the gate of Damascus International Fair.
The Director of the company’s pavilion at the fair, Mr. Lui Abdul Ghani said that the company has agreed with a Syrian client, on the sideline of the activities of the fair. Concerning competition, Mr. Abdul Ghani said that it was a fierce competition, adding that the company looks forward to participate next year in Damascus International Fair due to the big opportunities the fair offers in terms of promotion and exchanging experiences.

Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on Voltairenet.org in Arabic and English. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English and French languages.