In a strategic move aimed at rebuilding international partnerships, Minister of Economy and Industry Nidal al-Shaar led a Syrian delegation on a visit to the US, where he met with senior American officials and representatives of leading economic institutions.
Issam al-Ghraiwati, chairman of the Damascus Chamber of Commerce, said the visit demonstrates the government’s commitment to economic openness and to restoring dialogue with international partners after years of sanctions. He added that the trip provides a valuable opportunity to explore new avenues of cooperation and establish a sustainable economic model that reinforces Syria’s role as a regional trade hub.
The Role of the Syrian-American Business Council
The US Syrian-American Business Council (USSYBC) played a central role in organizing meetings between the Syrian delegation and US institutions, including the Department of Commerce, members of Congress, and international business leaders.
Discussions focused on joint investment opportunities and ways to expand cooperation across multiple sectors, laying the groundwork for renewed economic and trade relations between Syria and the US.
Legislative Reforms and Investment Opportunities
Abdulrahim Ziadeh, head of the Damascus Countryside Chamber of Commerce, said the visit represents a turning point in shaping a new economic policy suited to current global realities, especially amid US discussions regarding the lifting of the Caesar Act sanctions.
He highlighted the need to amend Syrian economic legislation to create a more attractive environment for investors and emphasized that such steps would open new channels for exports and the transfer of American technology into Syria.
Enhancing Banking and Financial Cooperation
Ziadeh also pointed to the positive outcomes of the recent visit by Finance Minister Muhammad Barnieh and Central Bank Governor Abdulqadir al-Husriya to Washington, which helped strengthen technical cooperation in the banking sector and facilitated the transfer of financial expertise to Syrian institutions.
The Syrian delegation also participated in the annual meetings of the International Monetary Fund (IMF) and the World Bank. During the meetings, the finance minister discussed structural transformation policies to support growth and held talks with the World Bank Vice President for Development Finance about the possibility of securing up to $1 billion in grants over the next three years.
Reconnecting with Global Markets
Further discussions explored technical assistance and project funding in key sectors such as water, transportation, railways, energy, and gas. The delegation also met with the World Bank’s Sustainable Development Team to review ways of revitalizing the agricultural sector and repairing irrigation networks, stressing the importance of private sector participation and capacity building.
These high-level meetings represent a significant step toward reintegrating the Syrian economy into global markets and attracting much-needed investment and development support for the country’s reconstruction and long-term growth.
