Syria's capital Damascus is preparing to host the first Syria-US Business Forum, aiming to open a new chapter in economic relations with the US. According to the Syrian official news agency SANA, the forum will be held in cooperation between Syria's Ministry of Economy and Industry and the Syria-US Business Council.
The forum's sessions, aimed at opening new horizons in economic cooperation between the two countries, will discuss the future of the Syrian economy in its recovery phase, the economic reform agenda, and investment opportunities in various sectors.
The forum will serve as a dialogue platform between decision-makers and private sector representatives. Through this, it aims to strengthen the investment environment, establish new economic partnerships, and attract international capital and expertise to reconstruction and development projects.
Comprehensive sanctions relief
The forum is being held after the US's broad sanctions relief for Syria in 2025. The US Treasury Department issued General License No. 25, which releases previously prohibited transactions and aims to encourage private sector investment in the country.
Additionally, the US State Department granted exemptions from some sanctions under the "Caesar Act," paving the way for investments that will support recovery and reconstruction efforts.
In June 2025, US President Donald Trump signed an executive order lifting sanctions on Syria. A White House statement said the move aims to support Syria's journey towards stability and peace.
Following these developments, the US Treasury removed 518 individuals and entities from its sanctions list, describing them as "extremely important for Syria's development, the functioning of its government, and rebuilding the social fabric." In contrast, sanctions were expanded against individuals and entities linked to the deposed leader Bashar al-Assad and his supporters.
After regime change
Many countries, led by the US and the European Union, began imposing sanctions on Syria after the Assad regime's bloody crackdown on the popular uprising that began in 2011. These sanctions included measures such as asset freezes, halting financial transfers, blocking technology transfer, and banning trade with the regime.
On December 8, 2024, opposition groups took control in Syria, ending 61 years of Baath Party rule and 53 years of Assad family rule. The new government declared Ahmed al-Sharaa as the country's president for a five-year transitional period on January 29, 2025.
