The United Arab Emirates and Syria are advancing economic cooperation with a focus on transforming investment discussions into concrete projects, including the development of Syrian free zones, officials said during the first Syrian-UAE Investment Forum held in Damascus this week. The event, organized by the Syrian Investment Authority, brought together senior representatives from both countries to explore opportunities across multiple sectors.

UAE Minister of State for Foreign Trade Thani Al-Zeyoudi highlighted the UAE’s growing interest in investing in Syrian free zones, indicating that further details and agreements are under discussion. “If we reach an agreement, we will provide all facilities to expedite the signing and implementation,” he said during the forum’s opening session. Over the past year, the two countries have announced several projects and memoranda of understanding (MOUs) valued in the billions of dollars, covering tourism, infrastructure, and energy sectors.

Trade between the UAE and Syria saw significant growth in 2025, with non-oil trade totaling $1.4 billion—more than double the volume from the previous year. Al-Zeyoudi described this rise as a sign of expanding bilateral relations and emphasized that the forum produced a range of preliminary agreements involving tourism, construction, infrastructure, agriculture, aviation, and logistics.

Major projects under discussion include a $60 billion investment by Eagle Hills, a $1.5 billion tourism development by Al Habtoor Group, an $800 million port development agreement between DP World and the Syrian Port of Tartous, a $22 million stake by AD Ports Group in the Port of Latakia, and a gas field development deal with Dana Gas.

Mohamed Alabbar, founder of UAE real estate giant Emaar, said his company is evaluating projects in Damascus valued at up to $12 billion, and others on Syria’s coast worth up to $7 billion. Syrian Economy and Industry Minister Nidal Shaar announced plans to form a technical delegation to visit the UAE to develop a comprehensive roadmap for implementing recent agreements.

While the UAE’s engagement with Syria has accelerated more gradually compared to other Gulf states such as Saudi Arabia and Qatar, officials note an uptick in ties amid broader regional shifts. Syria’s new government, led by President Ahmed al-Sharaa, a figure with a controversial background, has shown increasing solidarity with the UAE, particularly following hostilities involving Iran and the region. Anwar Gargash, a senior diplomatic adviser to the UAE president, recently described Syria as one of the most supportive Arab states toward the UAE.

Syria has been actively seeking foreign investment to revive an economy severely impacted by over a decade of war and international sanctions, most of which were lifted late last year. In addition to the UAE, Gulf countries and U.S. firms have also signed significant MOUs with Syrian entities in efforts to aid the country’s economic recovery.

The investment forum held at the Presidential Palace in Damascus was attended by President Sharaa, ministers, and senior officials from both nations, marking a symbolic step in the restoration of economic and diplomatic connections between Abu Dhabi and Damascus.