Gulf Eyes Syrian Trade Corridor to North Africa
The Gulf war is bringing Syria back onto the MENA business map. The post Gulf Eyes Syrian Trade Corridor to North Africa appeared first on Global Finance Magazine .
Syria's coastline is becoming increasingly vital as investors seek to establish trade routes connecting Gulf nations, Iraq, and North Africa to the Mediterranean, bypassing the Strait of Hormuz. Port traffic has surged by at least 25% since March 2026, with 945 ships transporting 8 million tons of cargo passing through Syrian ports in the first half of 2026.
In Tartus, DP World, a Dubai-based logistics company, has invested $800 million in a 30-year concession to develop and manage port facilities. The recent addition of three harbor cranes is anticipated to increase cargo-handling capacity by 40% and accommodate larger vessels. DP World's CEO, Fahad al-Banna, stated that this investment aims to enhance supply chains, attract new trade opportunities, and aid Syria's economic recovery.
In the north, CMA-CGM, a French shipping and logistics major, secured a $265 million contract to modernize and operate maritime infrastructure in Latakia. The company has also signed agreements to manage dry ports near Damascus and Aleppo, strengthening road and rail links between Syria's two largest cities and maritime hubs. Infrastructure development is underway, including airport renovations, pipelines, and data cables.
For instance, U.S. firm UNIFI signed a deal for a 149-mile submarine cable connecting Cyprus and Tartus, facilitating data flow from the Gulf to Europe.
These projects are part of broader billion-dollar investment pledges following the fall of former President Bashar al-Assad's regime and the end of the 14-year civil war. As a result, the coast is transitioning from a military geography to a commercial one. Benjamin Feve, a senior consultant at Karam Shaar Advisory Limited, notes that Tartus, once a Russian naval foothold, is now operated by global port operators.
Moscow has agreed to return civilian infrastructure to Syrian control, turning its military bases into joint training centers.
President Ahmad al-Charaa, who took power in December 2024, has garnered broad international support, particularly from U.S. President Donald Trump, who referred to him as a "real leader." In August, the U.S. removed Syria from its list of state sponsors of terrorism. Gulf states are the primary backers of Syrian reconstruction, with billions of dollars in announced investments, but few projects have materialized, and many Syrians fear the momentum may dissipate.
High oil prices have provided Riyadh and Abu Dhabi with greater budget flexibility, potentially benefiting Syria. However, trade volumes remain about one-fifth of pre-2011 levels. While new activity is real, it remains weak, and the Strait of Hormuz may regain its significance as a key transit route once the war concludes. Despite the restored peace, the Syrian coast remains challenging to navigate due to recent deadly clashes between the new government and Assad's allies, resulting in nearly 1,500 casualties in 2025.
Written by urgent.news from Global Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
