Terror List Removal Opens Investment Channels for Syria

Damascus Chamber of Commerce head Essam Ghariwati stated that removing Syria from the list of state sponsors of terrorism carries significant economic and financial implications that could reshape the country's relationship with global markets, following years of restrictions that limited trade, investment, and international banking transactions.

Restoring Financial Channels

In remarks to Al Watan newspaper, Ghariwati said the development places the Syrian economy at the start of a new phase focused on restoring communication channels with global financial institutions and companies, and on turning political opening into productive projects and investment partnerships that support economic recovery and job creation.

He explained that the significance of the decision lies in its potential effects on investment and trade flows, noting that the return of international financial dealings and the reopening of banking communication channels could become key factors in attracting capital, supporting rebuilding projects, and facilitating the integration of Syrian companies into foreign markets.

SWIFT and Global Dealings

Ghariwati added that restoring access to the global financial system, including the possible use of the SWIFT network, would not be limited to American institutions but would extend to companies and banks worldwide, potentially expanding opportunities for trade and investment cooperation.

Upcoming US Delegation

He revealed that a large American delegation is expected to visit Damascus next month to discuss investment and trade cooperation opportunities with Syria, stating that he expects the coming period to bring announcements of new partnerships and areas of cooperation.

Conditions for Attracting Investors

Ghariwati said the significance of the current opening will depend on the Syrian economy's ability to build an investment environment capable of attracting investors, through:

• Developing investment legislation
• Improving administrative procedures
• Strengthening confidence in the banking sector
• Providing guarantees that help translate international interest into actual projects on the ground