Connect with us

Business

Saudi business delegation arrives in Syria; deals worth $4 billion to $6 billion seen being signed

Published

on

Saudi Arabia’s investment minister led a business delegation travelling to Syria on Wednesday, where they were expected to sign deals worth $4 billion to $6 billion as part of Riyadh’s efforts to support the country’s post-war recovery.

The Gulf kingdom has been a crucial supporter of interim President Ahmed al-Sharaa’s government, which came to power after toppling longtime ruler Bashar al-Assad in December and is now seeking to rebuild Syria after a 14-year civil war, Reuters reported.

Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, who brought around 130 Saudi businesspeople to Damascus, is set to hold meetings with Syria’s leadership ahead of a two-day investment conference opening on Wednesday, according to people due to attend.

Syrian Information Minister Hamza al-Moustafa said at a press conference on Wednesday that Syria will sign 44 agreements with Saudi Arabia estimated to be worth nearly $6 billion.

The agreements cover various sectors, including energy, telecommunications, financial and banking, investment funds and others, the minister said. Some of the agreements will be signed between the government and private companies, he said.

Saudi state-run Al Ekhbariya television reported on Tuesday that the agreements to be signed between Damascus and Riyadh would be worth over $4 billion.

During his visit to Syria, Saudi Arabia’s Al-Falih and his Syrian counterpart launched a cement factory project on Wednesday in Adra Industrial City in the Damascus countryside, the first white cement production project in the country, with an investment worth $20 million, Syrian state news agency SANA said.

Al-Falih also broke ground on an integrated retail project by Saudi investment firm Ethraa Holding that is worth 375 million riyals ($99.96 million) in investments.

Saudi Arabia has shown interest in Syria’s energy and hospitality sectors, as well as airports, a diplomat and a Syrian businessman familiar with the matter told Reuters.

The two countries are also expected to launch a joint business council, said the Syrian businessman.

The investment conference had initially been scheduled to take place in June, but was delayed due to the war between Iran and Israel. It is going ahead this week despite sectarian clashes in Syria’s southern city of Sweida that have left hundreds dead.

The violence is a reminder of the lingering instability in Syria, even as foreign investors explore opportunities.

Companies, many from Gulf states and Turkey, have expressed interest in rebuilding Syria’s power generation capacity, roads, ports and other damaged infrastructure.

Syria has signed a $7 billion power deal with Qatar and an $800 million agreement with UAE-based port company DP World in recent months. U.S. energy firms are also set to draw up a master plan for the country’s energy sector.

For its part, Saudi Arabia, along with Qatar, paid off Syria’s World Bank arrears, opening the possibility of new lending.

Syria’s al-Sharaa made his first trip abroad as president, to Saudi Arabia in February. And the kingdom’s Crown Prince and de-facto ruler Mohammed Bin Salman successfully lobbied U.S. President Donald Trump to lift sanctions seen as holding back private investment.

Business

Afghanistan eyes direct Basmati rice imports from India amid tensions with Pakistan

Published

on

Afghanistan is exploring direct imports of Basmati rice from India as it seeks to diversify its supply sources amid ongoing tensions with Pakistan, according to a report by The Hindu.

The report said Indian exporters and Afghan importers are expected to meet next month to discuss expanding direct trade in Basmati rice, following preliminary talks between officials from both countries held last week with the facilitation of the PHD Chamber of Commerce and Industry.

Afghanistan consumes nearly 500,000 tonnes of Basmati rice annually and has traditionally relied on imports from neighboring Pakistan. However, industry sources told The Hindu that recent strains in Afghanistan-Pakistan relations have encouraged Kabul to seek alternative suppliers, including India.

Representatives of Afghanistan’s diplomatic mission in New Delhi reportedly took part in the discussions and expressed interest in increasing purchases of Indian Basmati rice. At present, some Indian rice reaches Afghanistan indirectly through traders in Iran and Dubai, a route that adds to transportation and transaction costs.

One proposal under consideration is to transport rice through Iran’s Bandar Abbas Port, subject to agreements between the two governments. The discussions are also expected to cover logistics, payment mechanisms, and the possibility of barter trade, with Afghanistan’s dried fruit exports to India seen as a potential component of future trade arrangements.

According to The Hindu, a direct trade arrangement could help India expand its share of Afghanistan’s Basmati market, which has historically been dominated by Pakistani suppliers.

Continue Reading

Business

Afghanistan, Kyrgyzstan establish trade council to boost economic cooperation

The two sides signed a memorandum of understanding to establish the Afghanistan-Kyrgyzstan Trade Council.

Published

on

The Embassy of the Islamic Emirate of Afghanistan in Kyrgyzstan says the Afghanistan-Kyrgyzstan Business Forum has been held with the participation of officials from both countries.

According to a statement issued by the embassy, Acting Ambassador Abdul Shakoor Haqqani said Afghanistan supports strengthening bilateral trade relations and promoting joint economic initiatives between the two countries.

The statement added that the two sides signed a memorandum of understanding to establish the Afghanistan-Kyrgyzstan Trade Council. The council aims to strengthen ties between business communities, coordinate joint initiatives, and expand and support economic projects.

Meanwhile, Sayed Karim Hashemi, Chairman of the Afghanistan Chamber of Commerce and Investment, arrived in Kyrgyzstan on Saturday at the head of a trade delegation to participate in the forum.

Continue Reading

Business

Afghanistan invites Turkish investors to expand joint investments

Participants stressed the importance of increasing private sector cooperation and creating new opportunities to boost trade and investment between Afghanistan and Türkiye.

Published

on

A high-level Afghan business delegation, led by the Chairman of the Balkh Chamber of Commerce and Investment, Mohammad Ibrahim Ghazanfar, participated in the Afghanistan–Türkiye Joint Business Council meeting in Istanbul, calling for expanded joint investment and stronger economic cooperation between the two countries.

According to a statement from the Balkh Chamber of Commerce and Investment, Ghazanfar invited Turkish investors and industrialists to explore investment opportunities across various sectors in Afghanistan, emphasizing the country’s potential for mutually beneficial partnerships.

The meeting brought together business leaders, investors, and private sector representatives from both Afghanistan and Türkiye to discuss ways to strengthen bilateral trade and economic ties.

During the event, several cooperation agreements were signed between Afghan and Turkish economic institutions. The agreements are aimed at expanding commercial relations, promoting joint investment projects, and enhancing economic cooperation between the two countries.

The meeting was chaired by Süleyman Güllü, Chairman of the Türkiye–Afghanistan Joint Business Council, and was attended by Mohammad Akbar Azimi, the Islamic Emirate of Afghanistan’s Consul General in Istanbul, along with a number of businessmen and investors from both countries.

Participants stressed the importance of increasing private sector cooperation and creating new opportunities to boost trade and investment between Afghanistan and Türkiye.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!


Warning: Undefined array key "slug" in /var/www/vhosts/ariananews.af/httpdocs/wp-includes/class-wp-theme-json.php on line 2117

Warning: Undefined array key "slug" in /var/www/vhosts/ariananews.af/httpdocs/wp-includes/class-wp-theme-json.php on line 2117

Warning: Undefined array key "slug" in /var/www/vhosts/ariananews.af/httpdocs/wp-includes/class-wp-theme-json.php on line 2117