UAE Foreign Trade Minister highlights Syrian market, plans to bypass Strait of Hormuz
Abu Dhabi, July 21 (SANA)UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi confirmed on Tuesday that the Syrian market represents a large and promising opportunity, noting that commercial cooperation with Syria is progressing well.
In an interview with CNBC Arabia,Al Zeyoudiexplained that trade with several regional countries, including Syria, witnessed growth during the recent period as part of efforts to ensure the smooth flow of goods and maintain supply chain stability amid geopolitical developments.
The minister pointed to key Emirati investments in Syria, includingDP Worldsigning a 30-year contract to manage a Syrian port, Abu Dhabi Ports’ participation in a consortium with a French company, and plans to develop several free zones across the country.
Al Zeyoudi noted that the real estate sector stands out as one of the most promising sectors to offer investment opportunities during the upcoming phase.
In another context, Al Zeyoudi announced that the UAE has begun executing a plan to eliminate its reliance on theStrait of Hormuz, aiming for zero dependence, particularly regarding the oil sector, by developing infrastructure and strengthening logistics networks both domestically and internationally.
He added that the recent crisis prompted theUAEto prioritize securing the flow of goods without disruption while enhancing the integration of maritime, land, and air transport to mitigate the impact of any potential disruptions along maritime corridors.
Al Zeyoudi stressed that the UAE continues to implement programs to diversify trade routes and supply chains, thereby boosting the stability of foreign trade and supply security.
The statements follow Damascus hosting the firstSyrian-Emirati Investment Forumon May 11, organized by the Syrian Investment Authority at the Ebla Cham Hotel in Rural Damascus to explore prospects for investment and economic cooperation.
The forum featured panel discussions involving officials and investors from both sides, focusing on trade, investment, financial services, real estate, agriculture, energy, aviation, logistics, healthcare, and digital transformation.