Syria and Saudi Arabia marked a pivotal moment in their diplomatic and economic relations Saturday, June 31, as Saudi Foreign Minister Prince Faisal bin Farhan led a high-level delegation to Damascus for talks centered on reconstruction, investment and regional reintegration.
During a joint press conference with Syrian Foreign Minister Asaad al-Shaibani at Tishreen Palace, bin Farhan affirmed Saudi Arabia’s commitment to supporting Syria’s stability and economic revival. “We reiterate the Kingdom’s firm position in supporting Syria’s unity and stability,” he said. “The historical ties between the Kingdom and Syria reflect the depth of the solid relations that have always been based on supporting stability and enhancing opportunities for economic advancement.”
The Saudi delegation, which included top officials from the finance, investment, and foreign affairs ministries, met with Syrian President Ahmad al-Sharaa and Syrian economic officials to explore joint projects, particularly in the energy, trade, and communications sectors. According to Farhan, Saudi Arabia and Qatar will also provide joint financial support for Syria’s public sector workforce as the country emerges from years of war.
Investment at the Forefront
The visit comes amid increasing Saudi interest in Syria’s reconstruction. Economic analyst Ayman Jumaa told the New Arab that Saudi investments could eventually total up to $200 billion, with Crown Prince Muhammad bin Salman pushing for regional integration linking Syria to Jordan and the Mediterranean through transit corridors.
Syria’s estimated $700 billion reconstruction bill has opened a vast array of opportunities for Gulf capital. Saudi Arabia, which previously had over $2.8 billion invested in Syria before 2011, now appears poised to return as a major player, particularly as international sanctions begin to lift.
Shaibani emphasized that Saudi involvement is already yielding tangible results. “Just two days ago, we signed a major energy agreement that will bring light back to Syria,” he said. He added that Syrian efforts are focused not on temporary aid but on “building something better,” including revitalized infrastructure, a strengthened labor market and economic sovereignty.
Strategic Shift in Bilateral Relations
The two sides stressed that the new phase of cooperation is not symbolic. “This visit is an important step in shaping economic and investment relations,” Shaibani said in a statement posted to X. “It will contribute to supporting the reconstruction process, creating diverse opportunities for our peoples, and developing infrastructure.”
Trade between the two nations had declined sharply during the conflict years but has started to rebound. In 2024, bilateral trade reached $320 million, with Syria holding a modest surplus, according to the Syrian Ministry of Economy and Foreign Trade.
Farhan said Riyadh sees Syria’s recovery as a shared regional interest. “Syria possesses many opportunities and capabilities,” he said. “The fraternal and historical relations between our two countries are a fundamental pillar of a bright future.”
Both sides indicated that Saturday’s meetings would be followed by further consultations and forums aimed at sustaining the momentum of renewed cooperation.
