Damascus Chamber of Commerce and EU Delegation Discuss Private Sector Support and Investment

Meeting Overview

Damascus Chamber of Commerce President Essam Al-Ghreiwati met with a delegation from the European Union mission to Syria, led by Programs Director Tuli Rati, to explore avenues for strengthening economic cooperation. The meeting, held at the Chamber's headquarters, focused on supporting the private sector, improving the business and investment environment in Syria, and contributing to the country's economic recovery.

Chamber Priorities and Key Challenges

Al-Ghreiwati affirmed that the Chamber places private sector support at the top of its agenda, with particular emphasis on small and medium enterprises (SMEs) and entrepreneurship, as well as attracting Syrian, Arab, and foreign investment. He noted that the Chamber works closely with government bodies to help develop economic legislation and improve the investment climate.

Al-Ghreiwati also highlighted the difficulties surrounding banking transfers as one of the most pressing challenges facing investors. He called for accelerating the reconnection of the Syrian banking sector with the international financial system and for easing travel and mobility for business people, measures he said would positively impact economic activity and investment attraction.

EU Cooperation Priorities for Syria

The EU delegation outlined its cooperation priorities for Syria in the coming period, which include:

• Supporting economic recovery and building institutional capacity
• Improving the business environment and developing economic legislation
• Launching technical assistance programs and strengthening private sector partnerships
• Supporting SMEs through financing tools and investment risk guarantees
• Promoting entrepreneurship and empowering financial institutions, with a focus on productive and export-oriented sectors

Joint Workshops and High-Level Economic Visit

The EU delegation announced preparations for a series of joint workshops scheduled for September, to be attended by European business representatives and financial institutions. The workshops aim to strengthen ties between the Syrian and European private sectors, and will serve as a precursor to a high-level economic visit to Damascus planned for November, dedicated to exploring investment opportunities and the prospects for economic cooperation.

Broader Context

The meeting forms part of ongoing efforts to revitalize economic cooperation between Syria and the European Union, and to reinforce the private sector's role in the recovery phase through improved investment conditions, legislative development, and expanded financing opportunities and sustainable economic partnerships.