Syria Signs New 30-year Deal with French Shipping Giant CMA CGM

Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
TT

Syria Signs New 30-year Deal with French Shipping Giant CMA CGM

Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)

Syria on Thursday signed a 30-year deal with French shipping and logistics group CMA CGM that includes building a new berth at Latakia port and investing another 230 million euros ($260 million) over the course of the partnership, a company official said.

Latakia port is Syria's main maritime gateway. CMA CGM began managing Latakia's container terminal in 2009, under now-ousted Syrian leader Bashar al-Assad. The contract was most recently renewed in October 2024, also under Assad, for 30 more years.

After the opposition toppled Assad in December, the new authorities began talks on an amended deal. It was signed on Thursday by officials from the company and from Syria's port authority.

"CMA CGM has signed today the concession of the port of Latakia for a 30-year contract. We are committed to modernizing and expanding the terminal to meet growing demand and strengthen supply chains in the region," Joe Dakkak, general manager at CMA CGM LEVANT, told Reuters.

Dakkak told local broadcaster Syria TV that the agreement included a 230-million-euro investment, as well as a project to build a new, deeper berth at Latakia in order to increase activity at the port.

A person familiar with the deal said CMA CGM would invest 30 million euros in the first year and the rest in the following four years. The person said the berth would be 1.5 kilometers (0.9 miles) long and 17 meters deep, with advanced infrastructure.

CMA CGM is controlled by Franco-Lebanese billionaire Rodolphe Saade and other members of his family, which has roots in Syria.

A Syrian source familiar with the negotiations had earlier told Reuters that Syrian authorities had hoped to negotiate a larger share of the revenues than the previous contract as well as a shorter timeframe for the terminal lease.



Berlin Eyes Partnership with Riyadh in Expo 2030, Climate Cooperation, Hydrogen Initiatives

Saudi and German flags fluttering - File Photo/Asharq Al-Awsat
Saudi and German flags fluttering - File Photo/Asharq Al-Awsat
TT

Berlin Eyes Partnership with Riyadh in Expo 2030, Climate Cooperation, Hydrogen Initiatives

Saudi and German flags fluttering - File Photo/Asharq Al-Awsat
Saudi and German flags fluttering - File Photo/Asharq Al-Awsat

A senior German official affirmed his country’s commitment to strengthening cooperation with Saudi Arabia across various fields, noting that bilateral trade relations continue to grow steadily, with trade volume reaching around 7 billion Euros.

Speaking to Asharq Al-Awsat, German Ambassador to Saudi Arabia Michael Kindsgrab said: “The sectors driving this growth—chemicals, machinery, and transport—reflect the strong industrial connections we share. These are areas where German expertise is making a real difference in Saudi Arabia’s development.”

He added: “Looking ahead, there is much to be excited about. Expo 2030 is an incredible opportunity for us to further deepen our collaboration, showcase the best of what both Saudi Arabia and Germany have to offer, and inspire future generations to continue building on this remarkable partnership.”

German Ambassador to Saudi Arabia Michael Kindsgrab - Asharq Al-Awsat

Renewable Energy

On climate cooperation, the official said: “As for climate cooperation, we have just launched a relevant study on the Saudi labor market in the renewable energy sector, which was reviewed by the National Labor Observatory and discussed with experts of KAPSARC, KaCare and PSU. This is a great example of our close and meaningful partnership, tackling the challenges of today with an eye on the future.”

Blossoming Relations

Kindsgrab noted that Saudi-German relations are truly blossoming, saying: "I am proud to see our partnership becoming deeper and stronger across so many areas. From a personal perspective, it is inspiring to witness the growing bonds between our two countries. These ties span a wide range of sectors, including energy, transport, architecture, health, education and culture—creating a solid foundation for the future.”

“One of the most exciting aspects of our cooperation is in the area of energy transition. German innovation is at the heart of NEOM’s green hydrogen projects, with Thyssenkrupp Nucera playing a key technological role in making the vision of decarbonization of industry a reality,” he affirmed.

“Beyond energy, we’re also seeing significant progress in transport, where Siemens’ delivery of metro wagons helped to shape the modern infrastructure of Saudi cities. And let’s not forget the impact of German architecture in megaprojects such as King Salman Park or the design of Expo 2030, which I believe will be a landmark event for both our countries, ” added Kindsgrab.

“In the health sector, the collaboration with Charité in Berlin is another example of how our nations are working together to improve lives.”

Accelerated Cultural Cooperation

“And now, I am particularly excited to see the acceleration of cultural cooperation, such as the recently launched museum initiative between the Saudi Museums Commission and the Prussian Cultural Heritage Foundation of Germany,” the German ambassador stressed.

“This cooperation emerged as part of our shared efforts to strengthen people-to-people ties and will play an enriching role for the cultural relations, as it includes a loan program for artworks, joint curatorship and training programs to support talent development,” he concluded.