Yesterday, March 8, Syrian President Bashar Al-Assad inaugurated and test-drove the “Sham” car, the first manufactured by the Syrian-Iranian company SYAMCO. Also attending the ceremony, in the industrial city of Dar'aa near Damascus, was Iranian Vice President Iranian Vice President Parviz Davoodi. Al-Assad also toured the plant.

After the ceremony, Al-Assad told journalists: "The goal of this project is to tighten the overall cooperation between Syria and Iran," adding: "Of course, the cooperation in the political sphere is excellent and historic, and it is important that we strengthen [it] by tying the joint interests of the two peoples in the spheres of industry, the economy, and other areas."

The Iranian car manufacturer Khodro holds 40% of SYAMCO's shares; the Syrian Industry Ministry holds 35%, and a private partner holds the remaining 25%. The Dar'aa plant cost some $200 million, and the Iranian side is meant to reap $70 annually from it.

Source: Al-Thawra, Syria, March 9, 2007; Akhbar Al-Sharq website, London, March 8, 2007