Overview
- A UAE delegation led by Trade Minister Thani Al Zeyoudi met President Ahmad Al Shara in Damascus during the first bilateral investment forum between the two countries.
- Officials reported record 2025 non-oil trade of $1.4 billion and said the sides sketched preliminary projects in tourism, construction, infrastructure, agriculture, aviation, and logistics.
- Emirati companies outlined concrete moves that include a reported 30-year DP World concession to run Tartous port with $800 million in upgrades, a Dana Gas study pact on Homs gasfields, and Emaar exploring multibillion-dollar real estate plans.
- Syria’s financial ties are switching back on with Visa and Mastercard resuming card processing, a reactivated Federal Reserve Bank of New York account, steps to rejoin the SWIFT bank-messaging network, and renewed links to the IMF and World Bank.
- Transport links are reviving as Etihad plans to restart Abu Dhabi–Damascus flights in mid-June, while the World Bank estimates reconstruction needs at about $216 billion, which keeps pressure on foreign investment to fill the gap.