PARIS -UNS : Saudi Arabia and France have agreed on a strategic framework to support Syria’s stability and economic recovery, with a focus on positioning the country as a major trade and logistics hub linking the Gulf with Europe and Asia.
The initiative goes beyond traditional aid by emphasizing investment, infrastructure development and the creation of alternative trade and transport routes.
The two countries announced the establishment of a Saudi–Syrian–French Business Council, aimed at promoting investment, strengthening private-sector cooperation and connecting Syrian markets more closely with regional and international economies.
The announcement was made in a joint statement issued following Saudi Crown Prince Mohammed bin Salman’s visit to France.
Riyadh and Paris reaffirmed their commitment to Syria’s unity, stability and economic recovery, while stressing the importance of establishing strong institutional frameworks to encourage greater investment.
The two sides highlighted Syria’s strategic geographic position and its potential to help reconnect trade routes linking Europe, the Gulf and Asia.
They particularly welcomed the creation of the trilateral business council as a mechanism for facilitating investment and expanding commercial ties with Syria.
France Expands Economic Engagement with Syria
The initiative follows a series of steps taken by France in recent months to deepen its economic engagement with Damascus.
During his visit to Damascus in July, French President Emmanuel Macron said France was prepared to contribute to Syria’s reconstruction and announced the establishment of expanded joint economic committees. Syrian President Ahmed al-Sharaa, in turn, called on French companies to invest in the country.
Macron said France could become a partner for Syria in sectors including energy and banking, describing the challenges facing the Syrian economy as opportunities for French businesses.
Paris and Damascus have also begun arrangements to return €51 million in frozen assets linked to the Assad family to Syria, while France has provided technical assistance to the Central Bank of Syria.
French shipping and logistics giant CMA CGM has also expanded its operations in Syria. The company has signed a partnership covering air-cargo handling at Damascus International Airport, following an earlier agreement to operate two dry ports.
According to al-Sharaa, CMA CGM has invested €230 million in the development of Latakia Port and plans to invest an additional €200 million to expand its capacity.
Syria Seeks to Re-emerge as a Trade Corridor
During Macron’s visit to Damascus, al-Sharaa emphasized Syria’s strategic location as a potential link between the Mediterranean, the Gulf and Iraq.
Regional developments, including disruptions and risks affecting major maritime trade routes, have reinforced the importance of secure and alternative corridors. Syria is seeking to capitalize on its geographic position by developing transport, logistics and trade infrastructure capable of connecting regional markets.
The vision outlined by Saudi Arabia and France similarly points to Syria’s potential role as a bridge between Europe, the Gulf and Asia through the development of alternative transportation and trade routes.
Saudi Investment Exceeds $6 Billion
Saudi Arabia has also significantly expanded its economic engagement with Syria.
A Saudi delegation comprising around 120 investors visited Syria, resulting in the signing of more than 47 agreements and memoranda of understanding across 11 sectors, with a combined value exceeding $6.4 billion.
Riyadh and Damascus subsequently agreed to move these understandings toward implementation and translate the announced agreements into concrete investment projects.
Al-Sharaa has described Saudi Arabia as a key partner in Syria’s economic development and integration, stressing that his government seeks to rebuild the Syrian economy through investment rather than reliance on aid.
The World Bank estimates Syria’s reconstruction needs at approximately $216 billion, underscoring the critical importance of attracting foreign capital to the country’s long-term economic recovery.
The new Saudi–Syrian–French Business Council therefore represents a significant new framework for trilateral economic cooperation.
It could provide a platform for mobilizing private investment, integrating Syrian markets with regional supply chains and supporting the country’s gradual re-emergence as a strategic commercial link between Europe, the Gulf and Asia.
