SYRIA PROPOSES MALAYSIA-SYRIA FTA

PUTRAJAYA, Jan 8 (Bernama) -- Syria Wednesday suggested Malaysia and Syria sign
a free trade agreement to intensify economic, trade and investment ties between
the two countries.

Malaysia took note of the proposal and suggested that the idea be further
discussed by the Joint Trade Committee including exploring other options to
enhance trade and investment between Kuala Lumpur and Damascus.

This was contained in a joint statement issued after the delegation meeting
between Prime Minister Abdullah Ahmad Badawi and his Syrian counterpart Mohammed
Naji Otri at the Prime Minister's Office.

The two leaders agreed to undertake continuous efforts to expand the scope
of bilateral relations and explore new areas of cooperation of mutual interests.


Both sides agreed to expand collaborations in banking and finance by
studying the possibilities of cooperation between commercial banks in both
countries.

Syria and Malaysia want to encourage the private sectors of both sides to
participate in trade and investment activities in both countries.

The statement said both sides would develop further cooperation in the areas
of trade, investment, air services, tourism, higher education, technical
cooperation, capacity building, science and technology, information and
communications technology (ICT) and information.

Greater participation in the Multimedia Development Corporation (MDeC) in
the development of ICT, SMART Schools, SMART Card and E-Government will also be
promoted, it said.

Both countries agreed to expedite discussions on draft agreements and
memoranda of understanding on banking, customs, maritime, immigration,
agriculture and housing in order to conclude them as soon as possible.

On Wednesday they inked two agreements on promotion and reciprocal
protection of investment as well as on air services and a memorandum of
understanding on cooperation in the field of small-and medium-scale enterprises.

The agreement on promotion and reciprocal protection of investment will,
among others, cover investment rights while the agreement on air services
outlines Malaysia's request for a fifth landing right to Syria.
-- BERNAMA