UAE restarts Syria business council as investors seek post-war opportunities

The UAE and Syria have reestablished their joint business council to enhance trade and investment relationships, as Syria seeks Gulf capital to rebuild its war-torn economy. The revamped UAE-Syria Business Council aims to foster new business partnerships across key sectors, according to the UAE Ministry of Foreign Trade. The council's re-launch resulted from a meeting between UAE Foreign Trade Minister Dr Thani Al Zeyoudi and Syrian Economy and Industry Minister Dr Mohammed Al Shaar in Abu Dhabi.

The UAE Federation of Chambers of Commerce and Industry spearheaded the restructuring, with Essa Al Ghurair serving as chairman and Yahya Lootah as vice chairman. UAE Minister Al Zeyoudi stated that reviving the council demonstrates both nations' commitment to restoring full-scale trade and investment ties, aiming to create a roadmap for deeper cooperation and private sector collaboration aligned with their development goals.

Syria's economy is gradually being reformed after the end of the civil war and the removal of sanctions last year. Gulf countries, including the UAE, are swiftly investing in Syria's future through diplomatic, financial, and infrastructure support. The UAE has notably accelerated its expansion into Syria, with DP World launching operations at Tartus port, which includes $800 million in infrastructure improvements.

UAE Federation Secretary General Humaid bin Salem highlighted the appointment of Emirati members to the business council as a crucial step towards strengthening institutional cooperation between the business communities of both nations.