EU seeks to expand investment ties with Syria through Damascus forum
The EU is aiming to bolster investment ties with Syria, at a major forum in Damascus next week, as part of a wider effort to help stabilise the country and curb the influence of Iran and Russia, allies of the former Assad regime. Europe is putting in "serious work and funding into rebuilding Syria", an EU official told The National . "If Syria can develop its own prosperity and security and…
The European Union is set to enhance its investment ties with Syria through a high-level forum in Damascus next week. The push for deeper economic cooperation aims to aid Syria's recovery and prevent the influence of adversaries like Iran and Russia, former allies of the Assad regime. EU officials are confident that a successful partnership could benefit both Europe and the wider region.
Syrian Foreign Minister Asma al-Shibani and EU Commissioner for the Mediterranean Dubravka Sukari will co-chair the Syria Partnership Coordination Forum. The event, set to be the first visit of the European Investment Bank to Syria in 15 years, will focus on laying the groundwork for a potential 2027 EU-Syria business conference.
The World Bank will unveil the START trust fund, a multi-donor initiative supporting recovery and reconstruction in Syria. Despite progress, challenges remain in connecting Syria's banking sector to the West and achieving accelerated economic recovery. The EU has already pledged €175 million for Syria in 2024-25 and €280 million for 2026-27.
Relations between Damascus and Washington have warmed recently, with the US lifting sanctions related to construction in Syria and rescinding the state sponsor of terrorism designation. The forum precedes a major business forum in Jordan, where more than 100 EU corporations and 300 European participants are expected to attend.
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