Joint Crimea-Syria Trading House Established On Black Sea Peninsula - Crimean Official

SIMFEROPOL (UrduPoint News / Sputnik - 17th December, 2018) A joint Crimea-Syria trading house, which will help Russia and the Arab republic in conducting their transactions, has been created on the Black Sea peninsula, Georgy Muradov, the deputy prime minister of the Crimean government, told Sputnik.

"The joint [Crimea-Syria] trading house has been established," Muradov said.

According to the Crimean deputy prime minister, while the trading house is being registered as a resident of Crimea's free economic zone, the two countries are also deciding on the system of their transactions.

"The protocol of the [Russian-Syrian] intergovernmental commission provides for an accelerated settlement of transaction issue.

Obviously, it already seems that we will be trading in rubles," Muradov added.

In mid-October, a Crimean delegation visited Damascus and held talks with top Syrian officials and businesspeople. During the visit, the two countries signed a memorandum on economic cooperation, which, in particular, envisaged opening a trading house, a shipping company, organizing mutual deliveries of goods, and possibly operating direct flights between Syria and Crimea.

The two sides also develop their trade cooperation within the framework of the joint intergovernmental commission. During the body's 11th meeting, which was held in Damascus last week, Russia and Syria agreed to carry out their transactions in national currencies.