Syria, which has been reinstated as a member of the Arab League, urged Arab countries on Monday, May 15, 2023, to invest in the country. The plea came from Syria’s Economy and Trade Minister, Mohammed Samer al-Khalil, during an economic conference in Saudi Arabia, ahead of a league summit in the kingdom.
The 22-member Arab League agreed earlier this month to reinstate Syria, ending a 12-year suspension and taking another step toward bringing Syrian President, Bashar Assad, a long-time regional pariah, back into the fold.
However, crippling Western sanctions against Assad’s government remain in place and could prevent oil-rich Arab countries from rushing to invest in Syria or lead to a quick release of reconstruction funds in the war-battered country.
As he addressed the opening session of the conference in Jeddah, Mohammed Samer al-Khalil, said, “We invite you to participate in investing in Syria, where there are important opportunities and promising horizons.”
Finance Minister of Saudi Arabia, Mohammed al-Jadaan welcomed Syria’s return to the Arab League and expressed that he looked forward to working together “to achieve what we aim for.”
Earlier this month, Syria commenced regional discussions with Jordan, Saudi Arabia, Iraq, and Egypt in Amman, as part of an Arab-led initiative to resolve the Syrian conflict.
According to analysts, investments will likely be limited until Syria reaches a political solution to the conflict and resolves a host of other pressing issues such as millions of Syrian refugees, a flourishing illicit drug trade and extremist militant groups.
Meanwhile, it is unclear if Syrian President Bashar Assad, who has been formally invited to the Arab League summit on Friday, May 19, 2023, will take part in it.
Syria was suspended from the league over Assad’s brutal cracking down on mass protests against his rule in 2011. The uprising quickly turned into a civil war that has killed nearly a half million people and displaced half of the country’s pre-war population of 23 million.
Saudi Arabia had been a key backer of armed opposition groups attempting to overthrow Assad, but in recent months Riyadh had called for dialogue. Last month, Syria’s Foreign Minister, Faisal Mekdad visited Riyadh and his Saudi counterpart, Prince Faisal bin Farhan, visited Damascus and met with Assad. Last week, the two countries agreed on reopening their embassies.
Al-Khalil Thanks Arab Countries For Sending Aid To Syria
In his speech, al-Khalil also thanked Arab countries for sending aid to Syria following the February earthquake that hit Turkey and Syria, killing over 50,000 people, including more than 6,000 in Syria.
In addition to Saudi Arabia, Jordan and Egypt have also renewed ties with Damascus, following normalization efforts from the United Arab Emirates and Bahrain years ago.
However, Kuwait, Morocco, and Qatar, remain opposed to normalizing relations with Syria and Qatar continues to be a key backer of Syrian rebel groups fighting Assad.
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