Ankara: The first Syrian-US Business Forum commenced in Damascus, gathering senior officials, investors, and business executives to explore investment opportunities in Syria's energy sector and reconstruction efforts.
According to Anadolu Agency, the forum is organized by Syria's Ministry of Economy and Industry in partnership with the Syrian-American Business Council. The event is happening as Washington moves forward with plans to remove Syria from its list of state sponsors of terrorism. Earlier this month, US President Donald Trump notified Congress of the administration's decision to rescind the designation, initiating a 45-day review period before it can take effect.
Syrian-American Business Council Chairman Issam Ghreiwati inaugurated the forum, describing it as a pivotal moment in US-Syrian economic relations. He stated that the gathering reflects renewed confidence in Syria's economy and presents new opportunities for investment and private-sector partnerships.
Syrian Economy and Industry Minister Nidal Al-Shaar noted that recent US measures had eliminated significant barriers to trade, investment, and financial transactions, paving the way for broader economic engagement between the two nations. Syrian Petroleum Company CEO Yousef Qablawi highlighted Damascus's efforts to attract foreign investment in its oil and gas sector, mentioning that several memorandums of understanding signed with international companies have already progressed into investment agreements, with offshore exploration being a priority.
Former senior US diplomat Timothy Lenderking emphasized Syria's significant investment potential. US Deputy Assistant Secretary of State Jacob McGee stated that American companies had begun evaluating potential investments in the country. He added that Washington is collaborating with the Syrian government to facilitate Syria's reintegration into the international financial system by improving banking access and establishing a more predictable regulatory environment for investors.
Last year, Washington issued Syria General License 25 and provided exemptions under the Caesar Act to support investment in Syria's recovery. Trump subsequently signed an executive order lifting US sanctions on Syria.