DUBAI: The UAE and Syria have relaunched their joint business council in an attempt to accelerate private-sector investment and support for Syria’s postwar economic recovery.
The move was announced during talks in Abu Dhabi between the Emirati minister of foreign trade, Thani Al-Zeyoudi, and the Syrian minister of economy and industry, Mohammed Nidal Al-Shaar, to discuss the expansion of trade and investment cooperation between their countries.
The restructured council will provide a platform for connecting businesses and investors from both countries, with a focus on developing partnerships across sectors including infrastructure, industry, logistics, energy, agriculture, technology and financial services, the Emirates News Agency reported.
“The reactivation of the UAE-Syria Business Council … reflects the sincere desire of both countries to restore trade and investment relations to their full potential,” Al-Zeyoudi said, adding that the organization would develop a road map to strengthen cooperation between the private sectors in both countries and elevate economic ties.
He described Syria’s geographic location as offering a strategic advantage, and said future joint projects could enhance the country’s role as a regional logistics and trade hub linking the Mediterranean with international markets.
The Federation of UAE Chambers of Commerce and Industry announced the appointment of a new Emirati delegation to the council, headed by businessman Essa Abdullah Al-Ghurair and with Yahya Lootah serving as vice chairman.
Humaid Mohammed Bin Salem, the federation’s secretary-general, said the reactivation of the joint council would strengthen direct engagement between business leaders and investors while creating new opportunities for trade and investment.
Several Gulf countries have made moves to expand diplomatic and economic ties with Damascus since transitional authorities took control after the fall of the Assad regime in December 2024, which ended nearly 14 years of civil war. Meanwhile, governments in the region and international financial institutions have focused on support for the country’s reconstruction and economic recovery.
The World Bank has estimated that the cost of reconstruction after a war that devastated infrastructure, industry and public services in the country will be about $216 billion.
