Damascus, May 12 (SANA) The first Syria-UAE Investment Forum, held over two days in Damascus with the participation of President Ahmad al-Sharaa and a large UAE economic and investment delegation, marked what both sides described as a qualitative shift in bilateral relations — from renewed diplomatic contact to the foundations of a long-term strategic partnership built on investment, economic integration, and regional repositioning.
From dialogue to institutional partnership
The forum came as the culmination of a series of high-level visits and contacts between the two countries since Syria’s liberation in December 2024. Syria’s Minister of Economy and Industry Nidal al-Shaar said the bilateral relationship is built on mutual respect and deep ties, and that the presence of UAE business figures in Damascus goes beyond the economic dimension to reflect trust, brotherhood, and a genuine desire to build a partnership that serves both countries.
He said talks with the UAE delegation revealed a positive spirit and a shared conviction that the coming phase requires partnerships grounded in complementarity and the building of productive institutions.
Al-Shaar announced agreement on activating the Syria-UAE Business Council, and cooperation on developing economic and investment legislation, digital transformation, digital governance and payments, microfinance for small enterprises and youth, vocational training, and the development of modern industrial zones. A Syrian delegation is to visit the UAE to present a clear investment roadmap, with further cooperation planned in energy, agriculture, tourism, and aviation.
Trade and investment figures
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi said bilateral trade reached approximately $1.4 billion in 2025, describing it as a significant leap reflecting the accelerating development of economic relations.
He noted that Syria’s recovery and return to a growth trajectory opens broad horizons for deepening cooperation, particularly in reconstruction projects, industrial city development, agriculture, energy, transport, and connecting Syria to global markets.
Private sector and sovereign investment
The forum was marked by strong private sector participation from the UAE side. Emaar Group founder Mohamed Alabbar said Syria’s tourism sector holds genuine growth potential, projecting that visitor numbers could reach eight million within five years. He described the real estate sector as highly significant and indicated work is underway to build partnerships with Syrian businesspeople for reconstruction-linked projects.
Director of the Syrian Investment Authority Talal al-Hilali said the 2025 investment law guarantees investor rights, stressing that Syria is not looking for a financier but for a working partner in building the Syrian economy. The forum also highlighted the Syrian Sovereign Development Fund as a strategic tool for financing sustainable long-term projects, with governance and transparency as core principles.
Emirati businessman Abdel Qader al-Sankari, who is of Syrian origin, said the UAE delegation — which he described as the largest ever sent by the UAE outside its borders — came with direct guidance from President Mohamed bin Zayed Al Nahyan, adding that his first return visit to Syria in 15 years left him feeling free, reassured, and safe.
Kh.A
