Supporting local industries

Minister of economy: Syrian economy still strong

GMT 10:36 2012 Wednesday ,04 January

Arab Today, arab today Minister of economy: Syrian economy still strong

Minister of Economy and Trade, Dr, Mohammad Nidal  
Damascus - Sana

Minister of Economy and Trade, Dr, Mohammad Nidal   Minister of Economy and Trade, Dr, Mohammad Nidal al-Sha'ar affirmed that the Syrian economy is still strong and the only solution to control the prices of goods is to support and develop the local industries and to increase the productivity.
In an interview with the Syrian TV on Tuesday, al-Sha'ar indicated that the Ministry of economy has started to work on enabling and protecting the national industry with the aim of creating more job opportunities and a stable economic situation, in addition to meeting the needs of the citizens and achieving self-sufficiency.
He added that the economic team which had been formed for protecting the local industry and promoting the exports has started its work through specifying five promising industries in Syria to be supported.
He underlined the importance of allowing the citizens to participate and communicate with the Ministry and to be part of the current situation as the Government can't provide solutions to the situation alone and the participation of the citizens is very important.
He said that supporting the private sector will be studied and it will be done in a way that serves the national interests and not the interests of the factories owners.
He added that the increase in the prices at the local market is partially justified due to the increase in the prices on the international level like what happened few months ago.
The Minister affirmed that the prices of most of the consumer goods are still stable while the prices of the goods imported from Turkey have increased after ending the free trade agreement and after increasing customs fees on the imported goods.
He said that the Ministry of Economy exerts all possible efforts to control the prices, adding that the strength of the economy can be measured by its productivity and not by the value of its currency in comparison with other currencies.
Regarding the foreign trade and the fate of the investments in Syria and the effect of the crisis on the Syrian economy, Minister al-Sha'ar said that the repercussions are huge and negative as the effect starts from the general rate of the prices to the infrastructure of the factories to the psychological condition of the merchants, industrialists and citizens.
He hoped that the crisis will end and Syria will restore security and stability, pointing out that providing the basic needs of the Syrian citizens in suitable prices and achieving food security are a top priority to the Ministry of Economy.

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