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Last update - 19:54 06/03/2008
Damascus, Tehran sign eight memorandums of understanding
By The Associated Press
Tags: UN, Syria, Iran, nuclear

Syria and Iran signed Thursday eight memorandums of understanding, in a ceremony attended by journalists, involving different fields and agreed to set up a fund to finance investment in both countries.

The memorandums in fields including energy, media, health and customs were signed by Syrian Prime Minister Naji Otari and Iranian Vice President Parviz Davoudi who attended a two-day annual meeting of the joint Syrian-Iranian Supreme Committee.

During the meetings, both sides discussed ways of implementing three giant projects including diverting waters from the Tigris river to the northeastern province of Hassaka as well as generating power in the region. The third project is to divert water from the Euphrates river to the arid central regions.
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Syria is Persian Iran's strongest ally in the Arab world and has maintained close relations with Tehran since the overthrow of the monarchy in 1979.

The two countries also had agreed to set up an investment fund with a value of $200 million to finance joint investments.

Davoudi met earlier Thursday with President Bashar Assad and discussed with him bilateral relations and the situation in the Middle East, the official news agency, SANA, said.

A day earlier, Otari stressed Syria's support to Iran in facing international pressures aiming to prevent it from its legitimate right to possess nuclear power for peaceful purposes.

"We reject the principle of sanctions, political pressures and resorting to intimidation and blackmail," Otari said, adding that Iran's nuclear issue must be handed through dialogue and diplomacy.

The UN Security Council on Monday imposed a new round of sanctions on Iran for its refusal to suspend uranium enrichment, a key process that can be used to produce nuclear fuel or a warhead of a bomb. Iran immediately dismissed the sanctions as worthless and said it would continue enrichment.

Otari called on the international community to rid the region of all weapons of mass destruction and not to ignore what he called Israel's nuclear arsenal that threatens regional and international peace and security.

The volume of joint investments in Syria from Iran have amounted during the past few years to around $1.5 billion especially in the industrial field, SANA said.

More than 350,000 Iranian tourists visited Syria in 2007
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