Egypt and Syria are striving to enhance bilateral cooperation and expand economic partnerships, reflecting the increasing rapprochement between the two countries. This comes after a series of official visits and meetings that took place over the past weeks, where Egyptian Foreign Minister Badr Abdel Atty emphasized his country's commitment to actively contribute to supporting reconstruction efforts in Syria.
In a phone call with his Syrian counterpart, Asaad Al-Shibani, Abdel Atty highlighted the importance of building on the results of the visit made by the Egyptian economic delegation to Damascus a few weeks ago and following up on its outcomes to achieve the interests of both countries, according to a statement from the Egyptian Foreign Ministry.
Event Details
Damascus hosted the first Egyptian-Syrian economic and investment forum last January, with the participation of 26 leaders from Egyptian chambers of commerce and businessmen, aiming to build effective partnerships between the chambers of commerce of both countries and explore cooperation prospects in trade, industry, services, infrastructure, and reconstruction. The Egyptian Chamber of Commerce Federation confirmed that the forum aims to create Syrian-Egyptian-European alliances through the Union of Mediterranean Chambers and to develop Syrian exports to Africa via the African Chambers Federation.
The Egyptian Foreign Minister also discussed with his Syrian counterpart ways to advance and develop relations in various fields, particularly in economic and trade aspects. In a parallel context, Syrian Minister of Economy and Industry Nidal Al-Shaar discussed with the acting Egyptian ambassador in Damascus, Osama Khidr, ways to develop economic relations and partnerships, where both sides addressed opportunities for expanding economic partnerships and enhancing trade exchange.
Context and Background
This rapprochement comes at a time when Syria is suffering from the effects of a war that has lasted for more than a decade, with the reconstruction cost estimated at around $216 billion, including costs for residential buildings, non-residential facilities, and infrastructure. During his meeting with a delegation of Egyptian businessmen last January, Syrian President Ahmad Al-Shara expressed his gratitude to Cairo for hosting Syrian refugees and invited Egyptian companies to participate in reconstruction projects.
These steps reflect the desire of both countries to enhance economic cooperation as a means of supporting political rapprochement, as former Assistant Egyptian Foreign Minister Youssef Al-Sharqawi believes that economic cooperation serves as a window to support rapprochement between Egypt and Syria and improve political understanding.
Impact and Consequences
Economic cooperation between Egypt and Syria could contribute to improving the economic conditions in both countries, as the head of the Cairo Chamber of Commerce, Ayman Al-Ashri, confirmed that the Syrian government offers many facilities to Egyptian investors. Syrian chambers of commerce have begun importing Egyptian products, particularly in construction materials, reflecting the Syrian side's reliance on Egyptian expertise and companies in reconstruction efforts.
There is also a demand for Egyptian food products, which enhances market movement between the two countries. Al-Shaar pointed out the importance of strengthening economic relations between Syria and Egypt and working to activate areas of cooperation that serve mutual interests.
Impact on the Arab Region
This rapprochement between Egypt and Syria comes at a time when the Arab region is facing multiple economic and political challenges. Cooperation between the two countries could serve as a model for Arab collaboration in facing crises and enhance stability in the region. Additionally, Egypt's support for reconstruction efforts in Syria may contribute to improving relations between Arab countries and enhance regional coordination.
In conclusion, Egyptian-Syrian cooperation represents an important step towards strengthening bilateral relations and reflects the desire of both countries to overcome economic and political challenges. These efforts are expected to yield positive results that benefit both peoples and contribute to regional stability.