Business
Saudi business delegation arrives in Syria; deals worth $4 billion to $6 billion seen being signed
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
Uzbekistan delivers over 290 tons of aid to Afghanistan
The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.
Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.
The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.
The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.
Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.
Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.
The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.
Business
Turkmenistan, Afghanistan discuss steps to speed up land acquisition for TAPI pipeline
By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.
Officials from Turkmenistan and Afghanistan have held talks aimed at accelerating land acquisition for the long-planned Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline, according to Afghanistan’s Ministry of Agriculture, Irrigation, and Livestock.
The issue was discussed during a meeting between TAPI project head Murad Amanov, Afghanistan’s acting Minister of Agriculture, Irrigation, and Livestock Mullah Attaullah Omari, and Turkmenistan’s ambassador to Afghanistan Hoja Ovezov.
Amanov briefed Afghan officials on recent progress and emphasized the need to accelerate procedures related to land acquisition and the determination of land prices in line with the framework agreement signed by the four participating countries.
Meanwhile, vessels operated by the Azerbaijan Caspian Shipping Company (ASCO), part of AZCON Holding, have begun transporting pipes for the project. The shipments are being carried from the Port of Baku to the Turkmenbashi International Seaport.
By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.
Business
Afghanistan expands exports through Lapis Lazuli Corridor
A transport company is scheduled to move the shipments on Sunday, March 15, along the route that links Afghanistan with Turkmenistan, Azerbaijan, and Georgia before reaching Turkey.
Afghanistan’s Ministry of Transport and Civil Aviation has announced the dispatch of eight export shipments through Torghundi port via the Lapis Lazuli Corridor to international markets.
In a statement, the ministry said the move is part of ongoing efforts to facilitate transit and strengthen the country’s export sector. Officials confirmed that coordination has been completed for eight commercial consignments to be transported along the corridor.
According to the ministry, a transport company is scheduled to move the shipments on Sunday, March 15, along the route that links Afghanistan with Turkmenistan, Azerbaijan, and Georgia before reaching Turkey.
The consignments include dried fruits, jam, pressure cookers and energy drinks. After arriving in Turkey, the goods are expected to be re-exported to markets in Saudi Arabia, the United States, Australia and the Netherlands.
The Lapis Lazuli Corridor is a regional trade and transit route launched in 2018 to connect Afghanistan with European markets through the Caucasus and Turkey, providing an alternative pathway for Afghan exports beyond traditional routes.
The Ministry of Transport and Civil Aviation said expanding transit corridors, supporting export and import growth, and facilitating international transport operations remain among its key priorities.
Officials added that practical steps are being taken to strengthen Afghanistan’s role in regional trade and connectivity.
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