Damascus, July 11 (SANA) The initiation of procedures to rescind Syria from the U.S. list of state sponsors of terrorism could mark a major shift for the Syrian economy, paving the way for stronger banking ties, expanded trade and increased investment opportunities, according to economic experts.
Experts told SANA that ending the designation, imposed on Syria since 1979, would help ease financial isolation by encouraging the return of correspondent banks, facilitating international transfers and trade financing, and reducing costs linked to insurance, shipping and compliance.
Economist Abdul Azim al-Maghrbil said the impact of the designation extended beyond direct sanctions, as concerns among international banks and companies had limited their willingness to deal with Syrian entities. He added that removing it could reduce the costs of imports and support official foreign currency flows through banking channels.
He said the move could also improve confidence in the Syrian pound by boosting prospects for investment, remittances and trade, while opening wider opportunities to finance reconstruction projects through international institutions, donors and infrastructure companies.
Economist Khaled al-Turkawi said the decision sends a significant economic signal that could encourage foreign companies and investors to enter the Syrian market. He noted that the previous designation restricted access to technology and international financial support, adding that its removal would facilitate access to loans, grants and technical assistance.
U.S. President Donald Trump informed Congress of his decision to revoke Syria’s designation as a state sponsor of terrorism following his meeting with Syrian President Ahmad al-Sharaa on the sidelines of the NATO summit in Ankara. Under U.S. law, Congress will review the decision for 45 days before it becomes final.
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