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American companies back to business in Syria DEMETECH to be the first

American companies back to business in Syria DEMETECH to be the first
August 13
12:31 2017

DEMETECH USA ( surgical/medical device company located in Miami, Florida, United States. (Mr. Luis M. Arguello serves as the Chief Executive Officer and President of DemeTech Corporation. Mr. Arguello serves as Member of Board of Advisors of EXIM’s Bank. He served as a Member of Advisory Committee at Export-Import Bank of the United States).

 Demetech specializes in the development and manufacture of surgical sutures and other products used in the wound closure and surgery.
Demetech CEO Mr. Luis M. Arguello

Demetech CEO Mr. Luis M. Arguello

Demetech won a project with Damascus-Syrian Arab republic based Al Bassel heart centre to supply their yearly need of surgical sutures opening the door for American based companies to start their business operation in Syria.

The United States has imposed sanctions on Syria since 2003 due to the Syrian government position towards the USA invasion of Iraq. However, some business sectors were considered as sanction exempted such as healthcare products, pharmaceutical and some oil sector but requires to apply for a US export licence.

Since the start of the Syrian war in 2011, the United states government took much harder position putting additional sanctions on Syrian financial institutions and other industrial sectors, which consequently drove the business between Syrian and the USA to very little.

GE and Medtronic are one of the few US companies in healthcare still operating in Syria, with an office and a distributor to carry on technical support and supply of new products, GE has been granted a US export permission to continue business in Syria and kept active through out the period of the war.

DEMETCH is going to be the first USA company to start exporting to Syria its products, paving the way to other healthcare vendors and supplier to export.

This decision made by DEMETECH will encourage other US companies to start looking at the Syrian market which is always considered the USA products to be the best.

As the war in Syria is coming to an end, many US based companies will start looking to participate in the reconstruction of Syria after a long seven years war.

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