Egypt and Syria are seeking to strengthen bilateral cooperation and expand economic and trade partnerships, following a series of visits and meetings at various levels in recent weeks.
Egypt’s Foreign Minister Badr Abdelatty stressed his country’s “commitment to actively contributing to efforts to rebuild Syria.”
In a phone call with his Syrian counterpart, Asaad al-Shaibani, he highlighted the importance of building on the results of a recent visit by an Egyptian economic delegation to Damascus and following up on its outcomes in a way that serves the interests of both countries, according to a statement Thursday by Egypt’s Foreign Ministry.
In January, Damascus hosted the first Egyptian-Syrian Economic and Investment Forum, with the participation of 26 leaders from Egyptian chambers of commerce and the business community. The forum aimed to establish effective partnerships between the two countries’ commercial institutions and explore prospects for cooperation in trade, industry, services, infrastructure and reconstruction.
The Federation of Egyptian Chambers of Commerce said the forum sought to create Syrian-Egyptian-European alliances through the Union of Mediterranean Chambers, as well as to promote Syrian exports to Africa via the Federation of African Chambers.
During their call, Abdelatty and Shaibai also discussed ways to advance and develop bilateral relations across various fields, particularly in the economic and trade sectors.
Meanwhile, Syria’s Minister of Economy and Industry Nidal al-Shaar met with Egypt’s chargé d’affaires in Damascus, Ambassador Osama Khadr, to discuss ways to develop economic relations and partnerships.
According to the Syrian Arab News Agency (SANA), the talks addressed opportunities to expand economic cooperation, boost trade exchange and enhance collaboration across multiple sectors.
Al-Shaar stressed the importance of strengthening economic ties between Syria and Egypt and activating areas of cooperation in a way that serves mutual interests and supports market activity in both countries.
Former Egyptian assistant foreign minister Youssef El-Sharkawy said Egyptian-Syrian rapprochement is primarily driven by economic considerations.
Existing trade agreements between the two countries need to be activated to enhance cooperation, he remarked, adding that Cairo has continued to support Damascus both politically and economically.
In remarks to Asharq Al-Awsat, El-Sharkawy said economic cooperation represents a key avenue for strengthening rapprochement and improving political understanding, particularly amid evolving regional dynamics that require ongoing coordination with all parties.
Egypt remains committed to supporting the stability and sovereignty of Syria and its neighbors, especially Lebanon, he stressed.
According to Egypt’s Foreign Ministry, the call between Abdelatty and Shaibani also addressed the volatile regional situation amid escalating military tensions. Abdelatty pointed to Egyptian and regional efforts to contain tensions and de-escalate developments linked to Iran.
There has been progress in economic and trade cooperation between the two countries, according to Ayman El-Ashry, head of the Cairo Chamber of Commerce, who noted that the Syrian government is offering significant incentives to Egyptian investors.
Syrian President Ahmad al-Sharaa also met with an Egyptian business delegation during its January visit to Damascus, expressing appreciation for Egypt’s support, including its hosting of Syrian refugees during its civil war.
The World Bank estimates the cost of rebuilding Syria at around $216 billion, including $75 billion for housing, $59 billion for non-residential buildings and $82 billion for infrastructure.
