UAE delegation meets Syria's President Al Shara as economic ties gather momentum

A delegation led by Minister of Foreign Trade Dr Thani Al Zeyoudi met Syrian President Ahmad Al Shara in Damascus during the first UAE-Syria Investment Forum , as the countries move to expand economic engagement. The forum, which opened on Sunday, brought together ministers, senior officials and business leaders from the UAE and Syria , with more than 120 Emirati companies and institutions represented, Dr Al Zeyoudi said. The gathering was intended to strengthen trade and investment links and encourage private sector partnerships, he added, citing the growing economic momentum between the two countries. Dr Al Zeyoudi said bilateral non-oil trade reached $1.4 billion in 2025, an increase of more than 130 per cent on the previous year. Investment opportunities in “industry, agriculture, renewable energy, the digital economy and logistics” could help integrate Syrian businesses more closely into regional and global markets, he added. “We are confident that the private sectors in both countries will play a vital role in realising these opportunities,” he said on X. Dr Al Zeyoudi also held talks with senior Syrian officials, including Economy and Industry Minister Nidal Al Shaar, the head of the Syrian Investment Authority, Talal Al Hilali, and ministers of transport, agriculture, energy, and communications. He was in Damascus alongside Minister of State for Foreign Affairs Noura Al Kaabi, Dr Omar Al Darei, Chairman of the General Authority of Islamic Affairs, Endowments and Zakat, and the UAE ambassador to Syria, Hamad Rashid Al Habsi. Syria is seeking to rebuild its economy after more than a decade of war and sanctions that isolated it from international financial systems and investment. Since the start of the civil war in 2011, the Syrian economy has been heavily constrained by US and European sanctions. Following the fall of Bashar Al Assad in December 2024, western governments began easing restrictions. The US lifted its sanctions programme in July 2025, and Congress repealed the Caesar Act in December, while the European Union removed its economic sanctions in May 2025. Financial services firms have also begun to return, with Visa and Mastercard resuming operations last week after a 15-year absence. Earlier in May, Emaar chief executive Mohamed Alabbar met Syrian officials to explore major hotel and tourism projects in Damascus and Tartus, with proposed investments exceeding $11 billion. Bilateral ties have accelerated in recent months. In April, President Al Shara visited the UAE and met President Sheikh Mohamed to discuss economic co-operation and regional stability, as part of a wider Gulf tour that included Saudi Arabia and Qatar. Ties with Syria were effectively frozen between 2011 and 2018 during the civil war as the UAE downgraded relations with Damascus in line with the Arab League's decisions. The UAE reopened its embassy in Syria in 2018.