"The writing-off of the debt will foster economic cooperation between Russia and Syria. This move is absolutely justified, and was long anticipated by both Syrian and Russian businessmen," said Mr. Aslakhanov.
"The debt was burdening Syria and hampered its economic development, including joint economic projects," said Mr. Aslakhanov.
The write-off protocol was signed during Syrian President Bashar al-Asad's visit in late January. Moscow agreed to write off over 70% of the debt, or $10 billion.
In all, Syria owed about $13 billion, considering cross-cancellation of debts.
According to Mr. Aslakhanov, Russian business is gradually developing and going beyond the Russian borders. In particular, he added, Russian businessmen and industrialists are ready to share their technologies with Syria, particularly in the oil sector, including prospecting, oil extraction, and the laying of pipes.
He also recalled that oil company Tatneft had won the bid to prospect, extract and refine oil in Syria.
Russian and Syrian businessmen's interest in joint projects, he continued, was also manifest during the current visit to Syria by a Russian delegation, including many major Russian businessmen, headed by Yevgeny Primakov, the president of the Russian Chamber of Commerce and Industry.
"The arrival of Russian businessmen along with a highly respected person in the Middle East made it clear to the Arab world that Russia's relations with Arab nations are improving, as they anticipated," Mr. Aslakhanov said.
In his opinion, the recent visit by Syrian leader Bashar al-Asad to Moscow and the productive meeting between the two presidents is also graphic evidence to that effect.
