Syria invites India Inc to tap biz potentials

He noted that the economic reforms ushered in his country had seen growth of 6.6 per cent in 2007 from the less than one per cent growth in 2000.

“I am confident that we will continue to build on these successes in the coming years with further reforms and strong partnerships,” al-Assad said at a business session jointly organised by industry bodies FICCI, CII and ASSOCHAM.

The Syrian national strategy has targeted key areas to support opportunity and inclusive growth, he said adding that the priority of his government was to create a ‘fertile investment environment’.

“Economically, improvements in the taxation and exchange rate system have helped strengthen the economy’s fiscal and monetary base,” the visiting President said.

Al-Assad said that measures were afoot to set up the country’s first stock market and steps like elimination of restrictions on imports, lower tariffs for local manufacturing and increased access to foreign exchange have gradually begun to liberalise trade.