UAE, Syria explore stronger economic and investment cooperation

Dubai: The UAE and Syria have explored ways to deepen economic cooperation and identify new investment opportunities across a range of strategic sectors, as both countries seek to strengthen commercial ties and expand private sector partnerships.

The discussions took place during a meeting in Dubai between Abdulla bin Touq Al Marri, Minister of Economy and Tourism, and Dr Mohammad Nidal Al Shaar, Syria's Minister of Economy and Industry, where the two sides reviewed avenues to enhance bilateral economic relations and elevate cooperation to support broader trade and investment partnerships.

The ministers also discussed opportunities to expand collaboration in key sectors of mutual interest, including the new economy, tourism and hospitality, infrastructure, logistics, entrepreneurship and advanced industries, with the aim of supporting economic growth and creating new opportunities for businesses in both countries.

Bin Touq said the UAE and Syria share longstanding fraternal and historic ties spanning decades, providing a solid foundation for expanding cooperation in development and investment projects that contribute to economic growth and deeper integration between the two countries.

"The UAE, guided by its leadership, is committed to continuing investment and expanding economic and development projects in the Syrian market," Bin Touq said. "This will help broaden the partnership between our two countries, support sustainable development and create diverse opportunities that drive growth and strengthen economic integration."

He noted that the meeting has been yet another step towards reinforcing economic relations and strengthening communication between Emirati and Syrian companies, particularly given Syria's diverse economic resources and investment potential. 

He added these opportunities could enable UAE businesses to expand into the Syrian market while enhancing the role of the private sector and supporting economic development in both countries.

During the meeting, Bin Touq also reviewed a number of economic policies and initiatives adopted by the UAE to strengthen the business environment, enhance the competitiveness of the national economy and maintain the country's policy of economic openness. 

He highlighted ongoing efforts to attract new economy businesses and investments, while continuing to modernise the legislative framework to reinforce the UAE's position as a leading regional and global hub for business and the economy.

For his part, Al Shaar said economic relations between the UAE and Syria continue to grow, adding that Syria is entering a new phase of economic openness to the world, supported by its economic resources and strategic location, which strengthens its role in regional and international trade and investment.

He said Syria places significant importance on strengthening the role of the private sector and creating an attractive investment environment that supports development and strategic projects, contributing to the country's economic development.