Vice chairman of the Iran-Syria Joint Chamber of Commerce Ali Asghar Zebardast has said that the Central Bank of Iran (CBI) has approved setting up a joint bank with Syria, noting that agreements between Iran and Syria are carried out by the governments of the two countries, but the private sector will enforce it.

According to The Iran Project,Zebardast made remarks regarding the joint Iran-Syria Chamber at the Conference of Introducing Opportunities of Entering the Syrian Market in the Iranian capital city of Tehran on Sunday.

He mentioned that the joint Iran-Syria Chamber has held numerous meetings recently and expressed hope that the agreements signed between the two countries would be implemented soon.

Zebardast pointed out some of the issues faced by traders from the two countries, including money transfer.

He also revealed that the CBI has approved the establishment of a joint bank and issued the license for setting up the bank.

Zebardast called on the Syrian officials to cooperate with the Iranian side to eliminate the trade barriers facing traders from both countries.

He stated that Syria's annual import value is approximately $5 billion, while the value of trade between Iran and Syria is between $250 million and $270 million, noting that to develop economic ties, the two sides should use the potential of the private sector more.

The Conference of Introducing Opportunities of Entering the Syrian Market was held at Morvarid Hall of the Trade Promotion Organization of Iran and was attended by Syrian Ambassador to Iran Shafiq Dayoub, Director General of West Asia Office of the TPOI Abdolamir Rabihavi, and several economic activists from both countries.