SYRIAN BANKING & FINANCIAL SERVICES CONFERENCE PRESS CUTTINGS

 

SANA
Syria's Banking and Financial Services Conference Starts Today
Saturday, November 04, 2006 - 08:10 PM

DAMASCUS, (SANA) – The second Syrian conference for Banking and Financial Services opened on Saturday to talk about Integration of Syria in the Global Economy .

Deputy Prime Minister for Economic Affaires Abdullah al-Dardari said in an opening speech, the last two years were full of comprehensive changes in the Syrian economic structure where the government prepared the tenth five-year plan for development as a framework for the social and economic change and to prepare Syria for facing the third millennium requirements .

He added "this plan constitutes a launching pad for gradual integration in the global economy depending on the principle that any passive results for this integration could not be compared to the catastrophic outcomes for the isolation and marginalizing, mainly for Syria who has always been via history the center of world trade and the point of ideas and cultures meeting ."

Dardari pointed out at the government inclination to a more transparent and effective style in preparing the general budget and said "the central bank was capable during the last two years to keep the exchange rate stability and face the surplus pressures," asserting the government's adherence to provide the biggest range of the central bank independence .

Dardari noted that to complement the infrastructure of the new finical system in Syria, the establishment of the stock exchange market came, and a law for Damascus stock exchange market recently appeared .

Chairman of the British-Syrian Society Dr. Fawaz al-Akhras called in his speech to develop the Syrian talented persons and work to transfer knowledge and expertise to future generations as well as bridge the knowledge gap and develop youth capabilities .

He hoped a "tangible development will take place had participants in the conference worked in an effective way to develop the Syrian society and economy ."

For his part, former Lord Mayor of the city of London Gavyn Arthur underlined that Syria does own great financial expertise to be counted on in Bourses and world stock exchanges .

He called for investment in the infrastructure and small and medium sized projects that are posing as the turbo of economic growth for any state and to increase foreign aid to this sector .

Mayor Arthur noted that Syria was capable to overcome some problems of investment and had done her best to get a new and flexible investment law that would be updated year by year .

About 600 businessmen from Syria, Arab and foreign countries attended the two-day conference.

 

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