DAMASCUS — In a major step toward regional economic reintegration, Syria’s Economy and Industry Minister, Nidal al-Shaar, issued a formal decree on Sunday, May 3, 2026, to establish the Syrian-Egyptian Business Council. The move is designed to catalyze private sector investment and streamline trade between Damascus and Cairo, marking a significant milestone in Syria's ongoing efforts to rebuild its international commercial standing.
According to the state-run SANA news agency, the newly formed council will be led by Ghassan Karim as Chairman. Supporting him in high-level leadership roles are Ahmed Ragheb Agha and Muhammad Basil Radwan Samaqia, who have been appointed as Deputy Heads, while Wael Khair al-Nen will serve as the council’s Executive Director. The leadership team is expected to bridge the gap between Syrian industrial needs and Egyptian market opportunities.
The timing of the council’s formation is highly symbolic, coinciding with the first official diplomatic mission to Egypt by Syrian Foreign Minister Asaad al-Shaibani. This diplomatic backdrop underscores a shift toward a "business-first" approach in Syrian foreign policy, aimed at leveraging historical ties to solve modern economic challenges. The initiative follows a pledge made in January by Syrian President Ahmad al-Sharaa, who told a delegation from the Federation of Egyptian Chambers of Commerce that the Syrian-Egyptian relationship was "not a luxury, but a duty."
This decree is the latest in a broader strategy by the Ministry of Economy to diversify Syria's trade partners through joint business councils. On March 26, 2026, Minister al-Shaar issued similar decrees establishing joint councils with Spain, Kuwait, and the Netherlands. These bodies are intended to activate the private sector’s role in national development, allowing Syrian entrepreneurs to bypass traditional bureaucratic hurdles and build direct ties with Arab and international markets.
Economists view the Syrian-Egyptian Business Council as a particularly vital link, given Egypt's large manufacturing base and its role as a gateway to North African markets. For Syria, the council offers a platform to attract Egyptian expertise in construction, textiles, and energy—sectors that are critical for the nation’s post-conflict recovery. By fostering these bilateral ties, Damascus aims to create a more resilient economic framework that relies on regional partnerships to mitigate the impact of international isolation.
The formation of the council is expected to lead to an immediate increase in trade fairs, investor forums, and reciprocal trade missions between Damascus and Cairo. As Syria continues to navigate its way back into the Arab economic fold, the establishment of these joint councils serves as a primary vehicle for revitalizing the "Made in Syria" brand and securing the foreign investment necessary to stabilize the national economy in 2026.
