Syria and Iran sign long-term oil and trade agreements

Link to Article: https://apnews.com/article/syria-iran-raisi-assad-war-4b053625380914b49fe5f68a8a9514cc

The Iranian and Syrian presidents, Ebrahim Raisi and Hashar Assad, met on Wednesday to sign a long-term cooperation agreement regarding oil and other economic sectors in attempts to increase economic ties between Iran and Syria. The Iranian presidents visit to Syria to sign the agreement marked the first Iranian presidents visit to the country since 2010. The presidents signed multiple agreements and memorandums on topics of oil, agriculture, railways and free trade zones.

Iran likely hopes to use this new economic agreement to alleviate Iran’s ailing economy. Iran would also gain from a railway agreement as Iran’s state railway company has aspired over the past years to expand into neighboring Iraq and Syria to create links with the Mediterranean, this would create a boost in trade and would create incentive. Syria would also gain from the agreement, its economy has recently hit an all-time low within the last 10 years. With high inflation and power cuts.

Both nations have decided that the agreement would accomplish their national interests and have such decided to sign it. As it is generally seen that states will act in ways that accomplish their own national interest. This expands to realist theory. Especially regarding trade. If the Iranian railway network which is also controlled by the state, would gain access to the mediterration it would mean massive economic benefits and would increase the states overall economic power and subsequently national prestige and power. Realist theory dictates that increasing state power be a states national interest in order to ensure survival and prosperity.

Leave a Reply