In a major step towards strengthening economic ties, Syrian Minister of Economy and Industry Dr Mohammad Nidal al-Shaar and Saudi Minister of Investment Eng. Khalid bin Abdulaziz al-Falih have signed a bilateral agreement to promote and protect mutual investments. The signing took place on the sidelines of a roundtable meeting in Riyadh, marking a significant milestone in the development of relations between the two countries.
Framework for Strategic Partnerships
Described by both parties as the result of months of intensive negotiations, the agreement aims to establish a comprehensive legal and regulatory framework to encourage and safeguard investments. It facilitates capital movement and covers key sectors such as industry, services, infrastructure, and tourism. The deal is expected to stimulate economic growth in both nations by fostering sustainable partnerships and offering a stable environment for investors.
Syrian Minister al-Shaar hailed the accord as a “qualitative leap” in Syrian–Saudi economic relations, underlining its potential to unlock broad avenues for constructive investment cooperation. “This agreement strengthens the fraternal ties between our peoples and establishes Saudi Arabia as a vital partner in Syria’s economic recovery, particularly in reconstruction and the revitalisation of productive sectors,” he said.
Saudi Vision for Regional Prosperity
Saudi Minister al-Falih contextualised the agreement within the Kingdom’s broader ambition to enhance economic partnerships across the Arab world, aiming to generate promising investment opportunities that support mutual interests and promote regional stability. “This collaboration with Syria reflects a long-term approach to building resilient economic ties capable of addressing regional challenges and achieving shared prosperity,” he noted.
The agreement is closely aligned with Saudi Arabia’s Vision 2030 agenda, which seeks to diversify the Kingdom’s economy and deepen regional cooperation. It also signals the Kingdom’s growing role in Syria’s post-conflict reconstruction, following the normalisation of diplomatic relations in 2023.
Syrian Delegation’s Visit and Roundtable Talks
Dr al-Shaar arrived in Riyadh on 17 August, leading an official Syrian delegation to attend the roundtable, which focused on enhancing economic ties and trade exchanges. The gathering, attended by senior officials from both countries, is expected to pave the way for fresh investments aimed at supporting Syria’s recovery and contributing to broader regional stability.
Together, the signing of the agreement and the outcomes of the roundtable reflect a forward-looking commitment to economic cooperation. Both nations are seeking to leverage their renewed partnership to confront shared challenges and promote long-term development.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
