Damascus, July 13 (SANA) U.S. Deputy Assistant Secretary of State Jacob McGee said on Monday that Washington views Syria’s transition from economic isolation to greater openness as an opportunity to strengthen stability, support economic growth and expand bilateral economic cooperation.
In a recorded video address to the First Syrian-American Business Forum in Damascus, McGee said removing barriers to economic growth would allow the Syrian people to realize their economic potential while enabling businesses and entrepreneurs to play a greater role in revitalizing the country’s economy.
He said U.S. companies were exploring investment opportunities in Syria amid growing interest in reaching agreements and establishing partnerships across a range of sectors, reflecting what he described as an improving business environment and stronger prospects for future economic cooperation.
McGee said the United States was working with the Syrian government to facilitate Syria’s integration into the global financial system by providing banking solutions and promoting a clear regulatory framework to support investment and trade.
He added that signs of economic recovery were beginning to emerge, citing increasing numbers of returning refugees and growth in tourism activity.
“The United States will continue to support investment opportunities and strengthen economic ties between Syria and the United States,” McGee said.
Speaking at the same forum, Timothy Lenderking, a principal at international law firm Squire Patton Boggs and a former senior adviser in the U.S. State Department’s Bureau of Near Eastern Affairs, said Syria offered promising opportunities for investment and economic cooperation.
Lenderking said the country’s current phase presented an important opportunity to build new partnerships as reconstruction efforts advance, the private sector expands and international investment grows.
He said his team was providing legal and advisory expertise to support cooperation between Syria and the United States and help establish new channels for economic engagement.
The First Syrian-American Business Forum brought together Syrian and U.S. government officials, business leaders and investors to discuss opportunities for expanding trade, investment and private-sector cooperation between the two countries.
N.J/ABD
