A report from Damascus published here today said that about $71, 000, 000 worth of contracts had been recently concluded by the United Arab Republic with the Soviet Union. The contracts are for development projects which include building a railroad linking the rich agricultural northeastern district of Syria with the Syrian port of Latakia on the Mediterranean via Aleppo.
At the same time it was reported here today from The Hague that a credit agreement which would enable the United Arab Republic to order factory equipment, aircraft, ships and other capital goods worth up to 50, 000, 000 florins ($13,160, 000) from a variety of Dutch firms, is now being prepared by the Twentsche Bank, one of the five largest in the Netherlands. The maximum credit term would be five years, according to the agreement.
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