Syria is ready to establish a railway link with Iraq and Iran, the country’s Minister of Economy and Foreign Trade, Mohammad Samer Al-Khalil, said.

The proposal came during a meeting with Iran’s First Vice President, Eshaq Jahangiri, to discuss the final steps to announce the strategic trade agreement between Tehran, Damascus and Baghdad.

This comes as Iran is looking for alternative regional allies as Western companies prepare to quit Tehran ahead of the imposition of US sanctions later this year.

The Syrian minister said the draft strategic cooperation agreement between Damascus and Tehran is in the final stages, adding that he had discussed with the Iranian official ways to implement previous agreements.

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The Syrian official called for strengthening economic relations with Tehran by supporting cooperation in the private sector through the establishment of an economic conference in the presence of Iranian and Syrian businessmen.

During the meeting, the Syrian minister announced Damascus’ approval of an Iranian proposal to open branches of Iranian banks in Syria and facilitate currency exchanges.