Syria has recently formalized a significant 0 million agreement with Dubai-based DP World aimed at revitalizing the port of Tartous, a strategic move to enhance the nation’s post-conflict reconstruction efforts. This landmark deal, which is expected to catalyze economic recovery, was signed in Damascus between DP World and the General Authority for Land and Sea Ports, in the presence of Syrian President Ahmed al-Sharaa.
According to the state news agency SANA, this collaboration is seen by Syrian officials as a crucial step towards modernizing the country’s logistics infrastructure. An unnamed official emphasized that this strategic initiative will significantly improve port operations and logistics services, thereby facilitating trade and commerce.
With a fresh leadership dynamic following the changes in governance since the former President Bashar al-Assad’s departure in December, Syria is actively working to rebuild its international economic relations. Central to this effort is the desire to reintegrate the nation into the global market, welcoming foreign investment and expertise.
Speaking after the signing ceremony, Sultan Ahmed bin Sulayem, CEO of DP World, remarked on Syria’s immense economic potential, noting that the Tartous port could play a pivotal role in rejuvenating local industries. He stated that Tartous is poised to transform into a key hub for trade and exports, enhancing Syria’s strategic position in global commerce.
The management of DP World extends across multiple port facilities in Europe, Africa, and Asia, and the company continues to expand its interests in the Middle East. Qutaiba Badawi, the head of Syria’s port authority, underscored that this agreement symbolizes more than a mere commercial transaction, describing it as “laying the groundwork for a new era of maritime development.” He affirmed that Syria is being positioned once again on the international economic stage.
This agreement follows a series of notable contracts signed by Syria in recent months, including a 30-year partnership with French shipping company CMA CGM to operate the Latakia port and a significant billion energy deal with a consortium of Qatari, Turkish, and American firms aimed at boosting the country’s power sector.
Additionally, recent developments have seen a shift in U.S. policy toward Syria, with the White House announcing the revocation of the designation of Hayat Tahrir al-Sham as a “foreign terrorist organization,” suggesting a more conciliatory approach to the region’s post-war recovery. Furthermore, an executive order issued by the U.S. President has lifted longstanding sanctions, promising to ease restrictions on businesses critical to Syria’s rebuilding initiatives.
While past sanctions have hindered recovery efforts and exacerbated the nation’s economic struggles, these recent actions signify a pivotal opportunity for Syria to rejuvenate and rediscover its economic capabilities on the global stage.
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