Saudi Arabia pledges reconstruction support for Syria as ties deepen
Saudi Gazette report
DAMASCUS — Saudi Arabia's Foreign Minister Prince Faisal bin Farhan affirmed on Saturday from Damascus that the Kingdom will be at the forefront of nations supporting Syria's reconstruction and economic revival.
Speaking alongside his Syrian counterpart, Asaad Al-Shibani, the minister also announced a joint Saudi-Qatari initiative to fund public sector salaries in Syria.
'Saudi Arabia will remain one of the leading countries standing beside Syria in its journey of reconstruction and economic revival,' Prince Faisal said during a joint press conference in Damascus.
He confirmed that Riyadh and Doha will provide financial support for Syrian civil servants, signaling a new phase in bilateral cooperation.
The visit follows U.S. President Donald Trump's recent announcement in Riyadh to lift economic sanctions on Syria, clearing the way for long-delayed economic recovery efforts after 14 years of devastating conflict.Prince Faisal, who led a high-level Saudi economic delegation, met with Syrian President Ahmed Al-Sharaa and visited the Umayyad Mosque in Damascus alongside Al-Shibani, where the two performed prayers.Syria's foreign minister expressed gratitude for the Kingdom's role in lobbying for the lifting of U.S. sanctions, calling it 'instrumental in opening the door to economic normalization.'Al-Shibani confirmed that the two countries are entering a 'strong phase of joint investment and economic cooperation,' including infrastructure rebuilding, agricultural revival, and job creation.As part of the growing economic engagement, Saudi investors are expected to visit Damascus soon, with discussions underway on potential trade, investment, and development partnerships.In a significant financial gesture, Saudi Arabia and Qatar have also jointly cleared Syria's outstanding $15 million debt to the World Bank.Damascus is banking on this renewed regional backing to launch its economic recovery, following a war that killed over half a million people and crippled its economy.According to a February report by the United Nations, the cumulative GDP losses due to the conflict are estimated at $800 billion.The sanctions, imposed largely in response to the former Assad regime's crackdown on peaceful protests in 2011, had severely restricted Syria's access to international markets and funding. With those restrictions now lifted, Syria is seeking to reintegrate into regional economic frameworks with help from Gulf partners.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
8 hours ago
- Saudi Gazette
GASTAT: Saudi Arabia's imports rise to SR74 billion in March
Saudi Gazette report RIYADH — Saudi Arabia's commodity imports rose slightly to SR74 billion in March 2025, a 0.1 percent increase compared to the same period in 2024. However, commodity imports increased by approximately SR 1.65 billion, a two percent increase, according to data released by the General Authority for Statistics (GASTAT). Machinery, mechanical equipment, electrical equipment, and their parts accounted for 26 percent of the Kingdom's total imports in March, with a value of SR19.3 billion. Vehicles, aircraft, ships, and transportation equipment accounted for approximately 15 percent. China accounted for 25 percent of Saudi Arabia's total imports in March 2025, with a value of SR 18.7 billion, followed by the United States with SR 5.8 billion, and the UAE with SR 4.4 billion. The top 10 countries from which imports accounted for about 65 percent of total imports, equivalent to SR48.1 billion. In its recently released monthly report, the GASTAT announced a 2.3 percent increase in the consumer price index (CPI) for April 2025 compared to the same month in 2024. The authority attributed this annual price increase to the rise in housing, water, electricity, gas, and other fuels, which recorded the highest increase of 6.8 percent. A 2.2 percent rise in food and beverage prices and a 3.5 percent rise in the prices of various personal goods and services contributed to this inflationary wave. Some major categories recorded an annual decline in prices, with furniture and home furnishings prices declining by 1.8 percent. Communications prices fell by 1.5 percent, clothing and footwear prices declined by 1.2 percent, and transportation by 1.0 percent. Health, recreation, and culture prices also saw slight declines of 0.2 percent and 0.7 percent respectively, reflecting relative stability in the costs of these services and products. In contrast, the tobacco sector recorded a slight increase of 0.1 percent.
Saudi Gazette
8 hours ago
- Saudi Gazette
Pledge of support for tripartite mediation efforts for lasting ceasefire in Gaza
Saudi Gazette report AMMAN — The Ministerial Committee assigned by the Joint Arab-Islamic Extraordinary Summit on Gaza, chaired by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan, held a virtual meeting with Palestinian President Mahmoud Abbas on Sunday. The meeting included the participation of Deputy Prime Minister and Minister of Foreign Affairs and Expatriates of Jordan Ayman Safadi, Bahraini Minister of Foreign Affairs Dr. Abdullatif bin Rashid Al-Zayani, Egyptian Minister of Foreign Affairs and Expatriates Dr. Badr Abdelatty, and the Secretary General of the Arab League Ahmed Aboul Gheit. From the Palestinian side, the meeting was attended by Vice President Hussein Al-Sheikh and Prime Minister and Minister of Foreign Affairs Dr. Mohammad Mustafa. The Committee briefed President Abbas on its international efforts aimed at securing an immediate end to the Israeli aggression against the Gaza Strip, lifting the blockade, and ending the humanitarian catastrophe. The Committee also updated the President on ongoing preparations to ensure the success of the upcoming High-Level International Conference for the Peaceful Settlement of the Question of Palestine and the Implementation of the Two-State Solution, scheduled to be held in New York this June under the joint chairmanship of the Kingdom of Saudi Arabia and the French Republic. The Conference seeks to advance the realization of an independent Palestinian state based on the June 4, 1967 lines, with East Jerusalem as its capital. The Committee reaffirmed its support for the mediation efforts of Egypt, Qatar, and the United States to achieve an immediate and lasting ceasefire in Gaza. It called on Israel to permit the immediate, adequate, and sustained entry of humanitarian and medical aid, and to grant access to United Nations agencies—particularly the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA)—to deliver assistance across the Strip. The Committee also called for an end to the dangerous escalation by Israel in the West Bank. The Committee emphasized the importance of convening the International Conference on Early Recovery and Reconstruction in Gaza, to be held in Cairo immediately after a ceasefire is reached. The conference will implement the reconstruction plan adopted by the Arab Emergency Summit held in Cairo on March 4, 2025. The Committee reiterated the importance of supporting the Palestinian National Authority and praised the reform measures initiated by President Mahmoud Abbas. It strongly condemned Israel's obstruction of the Committee's planned visit to Ramallah earlier today, describing it as a violation of diplomatic norms and a reflection of a dangerous policy aimed at hindering the Committee's efforts to achieve a just and comprehensive peace, as well as to support the Palestinian government's reform agenda. The Committee stated that this action was, regrettably, consistent with the Israeli government's extremist policies, which continue to block humanitarian aid from entering Gaza and obstruct broader peace efforts. For his part, President Abbas expressed his appreciation for the Committee's efforts to mobilize international support for ending the war in Gaza, alleviating the humanitarian crisis, and advancing the implementation of the two-state solution. He reiterated hope for the success of the upcoming High-Level International Conference and for expanding international recognition of the State of Palestine. President Abbas affirmed the government's commitment to its reform program and called for coordinated international support across the political, economic, and security dimensions to reinforce these efforts. He also called on Israel to release the Palestinian funds it is unlawfully withholding. The President reaffirmed his commitment to rejecting violence and the targeting of civilians, and to working toward peace and security in cooperation with Arab states and international partners. He expressed hope that the Ministerial Committee would soon be welcomed in person on Palestinian soil.
Leaders
11 hours ago
- Leaders
Italian Puglia Region Cuts Ties with Israel over Gaza Genocide
The government of Italy's southern Puglia region has cut relations with Israel over its genocide in Gaza, according to Al-Jazeera. Puglia Governor Michele Emiliano stated that the Israel is committing genocide against Palestinians in Gaza. Therefore, Emiliano called for an immediate suspension of all relations with all representatives of Israeli government. Emiliano also urged 'all managers and employees of the region, its agencies and participating companies to sever all relations of any kind with the institutional representatives of the Israeli government and with all those subjects attributable to it who are not openly and declaredly motivated by the desire to organize initiatives to stop the massacre of Palestinians in the Gaza Strip,' according to state-run ANSA news agency. Mounting Pressure on Israel Furthermore, Barcelona's city council voted to cut twin-city ties with Israel and suspend its friendship agreement with Tel Aviv over Israel's genocide in Gaza. 'The suffering and death in Gaza over the past year and a half, and recent attacks by the Israeli government, make any relationship unviable,' said Mayor Jaume Collboni during Friday's council session. The move seeks to cut all official relations with the Israeli government until they respect the international law and maintain fundamental rights of the Palestinian people. The city will also suspend a 1998 friendship agreement with Tel Aviv-Jaffa. Therefore, it urged the trade fair organizer Fira de Barcelona not to host any Israeli pavilions or companies which are part of the weapons trade or even profiting from the ongoing war in Gaza. Since the beginning of Hamas-Israel War in Gaza in 2023, the Israeli strikes have killed more than 53,500 Palestinians and wounded more than 118,000, according to Gaza's Health Ministry. Related Topics: Arab Ministers Condemn Israel's Ban on West Bank Visit Israel Accepts Witkoff's New Gaza Ceasefire Proposal: Netanyahu Germany Threatens Israel with Arms Exports Halt Over Gaza Crisis Short link : Post Views: 1
