TSKHINVAL, August 6. /TASS/. Business representatives from Syria and South Ossetia will sign a cooperation agreement and discuss prospects of establishing joint ventures, South Ossetian President Anatoly Bibilov told TASS on Monday.

"Now our chambers of commerce and industry are planning to sign a cooperation agreement, the Syrian businessmen are due to come and our entrepreneurs are expected to visit the Syrian Arab Republic," Bibilov said. "I think there will be many areas of common interest with our Syrian friends, including in creating joint ventures, which would operate with the South Ossetian Republic and the Syrian Arab Republic, and with third countries," he said.

The business delegations are expected to pay visits by the year-end.

South Ossetia is interested in the vehicles manufactured in Syria, while Damascus needs drinking water. "We may exchange goods, sell and deliver this water, we may consider developing the banking sector and financial systems - there are many options, which our businessmen and heads of the chambers of commerce and industry will discuss," he said.

Syrian President Bashar Assad and South Ossetian President Anatoly Bibilov signed on July 23 an agreement on friendship and cooperation between the two countries. The document was inked during the South Ossetian leader’s visit to Damascus. Syria recognized the independence of South Ossetia and another former Georgian autonomous region, Abkhazia, on May 29, 2018.