Syrians feel bite of U.S. imposed sanctions

[Dover]

Syrians feel bite of sanctions


Tuesday 01 June 2004

Three weeks after Washington imposed economic sanctions on Syria, local business people are beginning to assess the negative impact on their activities.

On 11 May when the United States imposed sanctions - for what it termed Syria's "support for terrorism", which Damascus denies - the authorities in Syria sought to play down their likely repercussions.

But in the past few days, there has been a somewhat different stance. Syrian Trade and Economy Minister Ghassan Rifaai spoke openly about their "negative impact" on the economy.

He acknowledged the sanctions were not "a good sign at the moment when (the country) is moving towards an (economic)opening and to attract investment."

"The announcement of sanctions battered us psychologically and will worsen the climate for investments, trade, industry and our financial transactions abroad," one representative of an American firm in Syria told AFP....cont'd >


http://english.aljazeera.net/NR/exeres/8225FC4F-71F3-430D-B293-FCF6CED5B1DF.htm