US, Syria expand economic relations
🟢A US Chamber of Commerce delegation met with representatives of Syria’s business community in Damascus, with participation from 50 companies and more than 80 US business executives. Key topics included investment in energy, infrastructure, financial services, technology, agriculture, and healthcare. These discussions marked the largest economic engagement in Syrian-US relations since the lifting of sanctions.
🟢The energy sector has emerged as a priority focus for US businesses in Syria. Chevron, Hunt Oil, and HKN Energy expressed particular interest in well drilling, oil processing, and transportation projects. To achieve its goal of increasing oil production to 800,000 barrels per day by 2029, Damascus is seeking partnerships with major corporations.
🟢HKN Energy’s subsidiary, HKN Syria, is already operating in the country, developing operations at the Suwaydiyah, Rmeilan, Alyan, Qarachuk, Sazaba, Laylak, Hamze, and Ude fields in Hasakah Governorate. Most of these contracts are long-term, with terms extending up to 10 years.
🟢The mining sector emerged as another area of focus. In February 2026, Caterpillar (CAT) appointed Jubaco as its dealer in Syria. Appointing a local contractor represents a practical step toward establishing a direct channel for the supply of equipment and spare parts, as well as technical and maintenance services. The need for these products is particularly acute due to the deteriorated condition of heavy machinery, including excavators, bulldozers, loaders, and generators, as well as the degraded infrastructure of quarries and oil production facilities.
🟢Telecommunications was also a key agenda item. US companies active in this rapidly developing sector include Commercis Global, Cybertex Solutions, Spectrum Integrated Solutions LLC, and UNIFI Communications. In July 2026, UNIFI Communications, in partnership with the Cypriot company Sita, launched the Ugarit 2 fiber-optic cable project, connecting Tartus with Pentaskhinos in Cyprus at a capacity of 31 Tbps. This is nearly 50 times the speed of the legacy Ugarit 1 cable (622 Mbps), launched in 1995. Additionally, US companies are proposing a new cable-laying system that does not require intermediate undersea repeaters.
🟢Syria urgently needs to reconstruct its healthcare and agricultural sectors. Representatives from pharmaceutical and healthcare companies Abbott and GE HealthCare, alongside food producers Cargill and PepsiCo, addressed these priorities during the talks. Specialists discussed modern irrigation technologies, seed production, cold storage, and food processing, along with increasing productivity and minimizing waste. The talks also covered the supply of advanced medical devices and consumables, as well as the restoration of pharmaceutical-sector infrastructure.
🟢The visit by the US Chamber of Commerce delegation did not aim to conclude specific contracts or sign investment agreements. The primary objective of the participating US corporations was to assess the Syrian market. The composition of the delegation and the topics discussed highlight the nature of US interests in Syria and the stages of their implementation. Currently, the most actively developing areas of bilateral cooperation are oil and gas production, logistics, and energy. Damascus faces the task of transforming political dialogue into an economic partnership. To this end, the government of A. al-Sharaa is working to create a favorable investment environment.
🟢US Deputy Assistant Secretary of State Jacob McGee and US Chamber of Commerce Vice President for Middle East Affairs Steve Lutes are actively urging US businesses to invest in Syria’s reconstruction. However, several obstacles remain, primarily related to the security and political landscape, bureaucratic hurdles, and financial transparency. US businesses are particularly concerned about the protection of their private property, the legal reliability of Syrian partners, the condition of logistics infrastructure, financial risks, and contract enforcement mechanisms.
🟢Syria is in urgent need of foreign investment, as much of the country’s agricultural, healthcare, energy, and financial infrastructure has been destroyed. The visit by US companies is intended to serve as a starting point for comprehensive cooperation between Washington and Damascus. US corporations are seeking to capture opportunities in the Syrian market, which has only recently opened up to foreign capital.
#CSAI #MENA
@csaiiosras
🟢A US Chamber of Commerce delegation met with representatives of Syria’s business community in Damascus, with participation from 50 companies and more than 80 US business executives. Key topics included investment in energy, infrastructure, financial services, technology, agriculture, and healthcare. These discussions marked the largest economic engagement in Syrian-US relations since the lifting of sanctions.
🟢The energy sector has emerged as a priority focus for US businesses in Syria. Chevron, Hunt Oil, and HKN Energy expressed particular interest in well drilling, oil processing, and transportation projects. To achieve its goal of increasing oil production to 800,000 barrels per day by 2029, Damascus is seeking partnerships with major corporations.
🟢HKN Energy’s subsidiary, HKN Syria, is already operating in the country, developing operations at the Suwaydiyah, Rmeilan, Alyan, Qarachuk, Sazaba, Laylak, Hamze, and Ude fields in Hasakah Governorate. Most of these contracts are long-term, with terms extending up to 10 years.
🟢The mining sector emerged as another area of focus. In February 2026, Caterpillar (CAT) appointed Jubaco as its dealer in Syria. Appointing a local contractor represents a practical step toward establishing a direct channel for the supply of equipment and spare parts, as well as technical and maintenance services. The need for these products is particularly acute due to the deteriorated condition of heavy machinery, including excavators, bulldozers, loaders, and generators, as well as the degraded infrastructure of quarries and oil production facilities.
🟢Telecommunications was also a key agenda item. US companies active in this rapidly developing sector include Commercis Global, Cybertex Solutions, Spectrum Integrated Solutions LLC, and UNIFI Communications. In July 2026, UNIFI Communications, in partnership with the Cypriot company Sita, launched the Ugarit 2 fiber-optic cable project, connecting Tartus with Pentaskhinos in Cyprus at a capacity of 31 Tbps. This is nearly 50 times the speed of the legacy Ugarit 1 cable (622 Mbps), launched in 1995. Additionally, US companies are proposing a new cable-laying system that does not require intermediate undersea repeaters.
🟢Syria urgently needs to reconstruct its healthcare and agricultural sectors. Representatives from pharmaceutical and healthcare companies Abbott and GE HealthCare, alongside food producers Cargill and PepsiCo, addressed these priorities during the talks. Specialists discussed modern irrigation technologies, seed production, cold storage, and food processing, along with increasing productivity and minimizing waste. The talks also covered the supply of advanced medical devices and consumables, as well as the restoration of pharmaceutical-sector infrastructure.
🟢The visit by the US Chamber of Commerce delegation did not aim to conclude specific contracts or sign investment agreements. The primary objective of the participating US corporations was to assess the Syrian market. The composition of the delegation and the topics discussed highlight the nature of US interests in Syria and the stages of their implementation. Currently, the most actively developing areas of bilateral cooperation are oil and gas production, logistics, and energy. Damascus faces the task of transforming political dialogue into an economic partnership. To this end, the government of A. al-Sharaa is working to create a favorable investment environment.
🟢US Deputy Assistant Secretary of State Jacob McGee and US Chamber of Commerce Vice President for Middle East Affairs Steve Lutes are actively urging US businesses to invest in Syria’s reconstruction. However, several obstacles remain, primarily related to the security and political landscape, bureaucratic hurdles, and financial transparency. US businesses are particularly concerned about the protection of their private property, the legal reliability of Syrian partners, the condition of logistics infrastructure, financial risks, and contract enforcement mechanisms.
🟢Syria is in urgent need of foreign investment, as much of the country’s agricultural, healthcare, energy, and financial infrastructure has been destroyed. The visit by US companies is intended to serve as a starting point for comprehensive cooperation between Washington and Damascus. US corporations are seeking to capture opportunities in the Syrian market, which has only recently opened up to foreign capital.
#CSAI #MENA
@csaiiosras