Economic relations between Syria and Azerbaijan are set to deepen, particularly in the gold and precious metals sector. This development came to light during a meeting between Musab al-Aswad, Director of the General Authority for Precious Metals Management in Syria, and Alnur Shah Huseynov, Charge d’Affaires of Azerbaijan in Damascus.
The discussions focused on expanding cooperation in this strategic field, which both sides described as vital to their respective economies. Officials underscored the importance of mutual visits and information exchange to gain firsthand insight into each country’s market conditions and identify specific opportunities for collaboration.
Opportunities for Trade and Industry Development
Aswad noted Syria hosts numerous workshops and factories specializing in gold craftsmanship, offering potential for export to Azerbaijan. He added that cooperation could also allow Syria to import essential raw materials needed for refining and manufacturing, especially given Azerbaijan’s significant reserves of precious metals.
The establishment of the General Authority for Precious Metals Management in February 2025 marked a turning point in organizing Syria’s precious metals sector. The authority was created to establish a structured and transparent framework that guarantees administrative and financial independence while strengthening the industry’s contribution to the national economy.
Aswad emphasized that the new authority’s role includes supporting export-oriented production, setting standards for quality control, and encouraging investment in processing and refining technologies.
Strategic Value for Both Economies
The renewed cooperation comes at a crucial time for Syria, which continues to rebuild its economy and expand into new markets. Developing the precious metals sector is expected to generate new revenue streams, bolster local industries, and create job opportunities for young Syrians — contributing to economic recovery and long-term stability.
For Azerbaijan, engagement with Syria offers access to emerging markets in the Middle East and opportunities to diversify export destinations amid shifting global trade dynamics. Officials in Baku view this cooperation as a means to expand the reach of Azerbaijan’s metal industries while maximizing the use of its substantial mineral resources.
A Promising Foundation for Future Cooperation
Both sides agreed that their partnership in gold and precious metals could serve as a foundation for wider economic cooperation, including technology transfer, training programs, and investment in industrial modernization.
The meeting concluded with a shared vision of turning this collaboration into a model for regional economic partnership, benefiting both nations as they seek sustainable growth. As Syria works to rebuild its industrial capacity and reintegrate into international trade, the partnership with Azerbaijan stands out as a promising step toward mutual prosperity and a sign of renewed confidence in Syria’s economic potential.
