CAIRO: The Syrian government and DP World signed a memorandum of understanding worth $800 million to develop Syria’s port of Tartous, Syrian state news agency SANA said on Friday, after the lifting of USsanctions cleared the way for the deal.
The deal to develop, manage and operate a multi-purpose terminal at Tartous includes cooperation in establishing industrial and free trade zones. DP World is a subsidiary of United Arab Emirates investment company Dubai World.
Syria is seeking to attract foreign investments to boost its struggling economy, and the deal was signed in the same week that US President Donald Trump announced plans to lift of sanctions on Syria during a visit to Riyadh.
Trump said he made the decision to lift sanctions after discussions with Saudi Crown Prince Mohammed bin Salman and Turkish President Tayyip Erdogan, whose governments have both strongly urged the lifting of sanctions.
Trump had also met with Syrian President Ahmed Al-Sharaa ahead of the GCC summit in Riyadh on Wednesday.
US Secretary of State Marco Rubio said on Thursday that Trump intends to issue waivers under the “Caesar Syria Civilian Protection Act,” through which Washington imposed stiff sanctions on former President Bashar Assad’s government and secondary sanctions on outside companies or governments that worked with it.
Removing US sanctions that cut Syria off from the global financial system will also clear the way for greater engagement by humanitarian organizations working in Syria, easing foreign investment and trade as the country rebuilds.
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Syria and DP World ink $800 million deal for port development
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Syria and DP World ink $800 million deal for port development
- Syria is seeking to attract foreign investments to boost its struggling economy
Turkey and Hamas discuss reaching second phase of Gaza peace plan, Turkish sources say
- They also discussed measures to be taken to resolve existing issues for proceeding to the second phase of the plan, the sources also said, without giving details
ANKARA: Turkey’s MIT intelligence agency chief met Hamas' negotiating team head Khalil Al-Hayya on Saturday and discussed necessary measures to be taken for proceeding to the second phase of the Gaza peace plan, Turkish security sources said.
The sources, speaking on condition of anonymity, said MIT chief Ibrahim Kalin met the Hamas delegation in Istanbul within the scope of the Gaza ceasefire agreement, and they discussed steps to be taken to prevent what they said were Israel's ceasefire violations.
They also discussed measures to be taken to resolve existing issues for proceeding to the second phase of the plan, the sources also said, without giving details.
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