On the 26th of January, Mr. Josep Santacreu, President of ASCAME, held a virtual meeting with Mr. Alaa al Ali, President of the Federation of Syrian Chambers of Commerce; Mr. Mohammad Aiman Raslan, President of the Homs Chamber of Commerce; and Mr. Amer Homsi, Director of the Federation of Syrian Chambers of Commerce, with the aim of exploring avenues of collaboration and strengthening institutional and business cooperation in the new era.
Syria is at a pivotal moment of political opening and economic reactivation, especially following the gradual lifting of sanctions by the U.S. Government and the European Union. In this context, European Commission President, Ms. Ursula von der Leyen, and President of the European Council, Mr. António Costa, paid a historic visit to Damascus announcing a new chapter of relations, with financial and economic support (620€ million package for 2026-2027) targeting humanitarian aid, early recovery and reconstruction efforts in the framework of the new Pact for the Mediterranean.
Reactivation of ASCAME’s Membership
Mr. Santacreu welcomed the new political momentum supporting Syria’s political transition and reconstruction efforts. In this sense, he took the opportunity to request the reactivation of the Syrian Chambers of Commerce as members of ASCAME, following a devastating period for Syrian economic and social stability. He also extended an invitation to participate in the first Executive Committee under the new ASCAME presidency, which will take place in April in Egypt.
Potential Sectors for Investment
During the meeting, Mr. Santacreu highlighted the great interest in hearing directly from the Syrian business community: “Understanding your perspectives and priorities for investment is essential for us. We are ready to help”.
The Syrian counterparts identified a wide range of strategic sectors for investment and reconstruction, including construction and energy, tourism and sustainability, agri-food; foreign trade, with special emphasis on the electricity sector, as well as cultural and architectural heritage.
The President of the Federation of Syrian Chambers of Commerce, Mr. Alaa al Ali, expressed a strong commitment to actively collaborating with the Mediterranean Chambers of Commerce, offering the opportunity “to host an ASCAME institutional or a business event in Syria”. He also extended an official invitation to attend the Damascus International Fair, an economic and cultural forum to be held in August 2026.
Lifting sanctions: EU’s new chapter in its relations with Syria
The European Union has recently approved a plan aimed at revitalizing trade relations and economic reconstruction in Syria in the framework of the Pact of the Mediterranean. To Mr. Santacreu, “this creates a favorable context, with potential funding opportunities for joint projects between countries”. Precisely, few days before, the European Commission President Ursula Von der Leyen, and the President of the European Council, Antonio Costa, visited Damascus to discuss a new chapter in the Syria-EU relations, focused around three pillars:
- A new political partnership supporting a peaceful and inclusive transition and reconciliation within Syria, and the country’s regional re-integration.
- Enhanced trade and economic cooperation, including through Syria’s involvement in initiatives under the Pact for the Mediterranean, backed by a substantial financial package for 2026 and 2027 to enable socio-economic recovery, reconstruction and facilitation of private investment.
- Financial support package of around €620 million for 2026 and 2027, which includes humanitarian aid, early recovery support, and bilateral support.