Egypt and Syria agreed to establish a joint investment forum at the second intergovernmental meeting held in Damascus to advance economic cooperation between the two countries. The talks addressed potential cooperation mechanisms in the economy, trade, investment, energy, electricity, oil, natural gas and free zones.
The meeting was co-chaired by Egyptian Deputy Foreign Minister Ihab Fahmy and Syrian Foreign Minister’s Adviser Muhammad al-Jaffal. Representatives of the ministries and institutions responsible for the economy, trade, investment, energy, electricity, oil, natural gas and free zones also attended the talks.
Technical working groups to be established
The Damascus meeting reviewed the outcomes of the first intergovernmental meeting held in Cairo on April 15, as well as the agreements reached in priority sectors.
While assessing mechanisms for implementing cooperation, the sides also discussed the possibility of establishing the relevant technical working groups as soon as possible.
Joint Business Council holds inaugural session
The meeting expressed satisfaction with the completion of efforts to establish the Egypt-Syria Joint Business Council. The council’s inaugural session was held in Damascus as part of the second intergovernmental meeting between the two countries.
The sides also agreed to organize a joint business forum to advance economic cooperation in priority sectors and assess trade and investment opportunities. The date of the forum was not announced.
Egyptian Investment Minister Mohamed Farid signed a decision on September 9 appointing Egypt’s representatives to the Joint Business Council for a three-year term. The Egyptian delegation includes representatives from the energy, contracting and construction, iron and steel, real estate development, food, pharmaceuticals and medical supplies, engineering, furniture and consumer products sectors.
Economic and trade cooperation discussed in Cairo
Egyptian Foreign Minister Badr Abdelatty and Syrian Foreign Minister Asaad al-Shaibani met on September 7 on the sidelines of the Arab League ministerial meeting in Cairo. The two ministers discussed developments in Egypt-Syria relations, as well as ways to strengthen bilateral cooperation in the economic and trade fields.
Four months before that meeting, Syrian Minister of Economy and Industry Muhammad Nidal al-Shaar formed the Syrian side of the Joint Business Council.
Relations between Egypt and Syria have been moving toward economic cooperation since the overthrow of Bashar al-Assad in December 2024. However, diplomatic relations between the two countries have not yet reached ambassadorial level.
Syrian diplomat Yahya Diab began serving as chargé d’affaires at Syria’s mission in Cairo in August after receiving approval from the Egyptian authorities.
