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

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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

Iran allocates over 110 hectares in Chabahar for Afghan economic activities

The talks also covered expanding industrial cooperation, establishing a joint industrial park and increasing bilateral trade to $10 billion.

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Iran has reportedly allocated more than 110 hectares of land at the strategic port of Chabahar for Afghanistan’s economic and commercial activities, in a move aimed at strengthening bilateral trade and industrial cooperation.

According to Iranian media reports, Mohsen Zanganeh, head of the Iranian Parliament’s Special Commission for Supporting Production and Supervising the Implementation of Article 44 Policies, announced the development following economic consultations between the two countries on Thursday.

Zanganeh said the proposal to set aside land for Afghanistan in the Chabahar Free Trade Zone was raised by Afghanistan’s industry minister.

“Under an agreement reached, we have agreed to allocate 10 hectares of land at Chabahar Port and approximately 100 hectares in the Free Trade Zone for Afghan investment. This arrangement will enable Afghanistan to invest in the designated area and facilitate its access to open waters.” said Zanganeh. 

He added that Afghan officials had requested additional space within the port itself, but limited coastal land had made the request difficult to accommodate. The two sides reached a preliminary understanding and are expected to continue discussions.

The talks also covered expanding industrial cooperation, establishing a joint industrial park and increasing bilateral trade to $10 billion.

Located on the Gulf of Oman, Chabahar Port offers Afghanistan a potential gateway to international markets and could help diversify the country’s trade and transit routes.

The proposed arrangement could create new opportunities for Afghan businesses, strengthen regional connectivity and support the expansion of commercial ties between Kabul and Tehran.

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Business

Russia-Afghanistan trade surges 150% in first seven months of 2026

Russia’s main exports to Afghanistan include natural gas, petrol, diesel, wheat, wheat flour, sunflower oil and other agricultural products.

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Trade between Afghanistan and Russia increased by 150 percent in the first seven months of 2026 compared with the same period last year, according to figures released on October 7.

Russian Deputy Prime Minister Alexei Overchuk and Afghanistan’s Foreign Minister Amir Khan Muttaqi discussed expanding bilateral cooperation in trade, energy, investment and transport, as well as strengthening ties between businesses in the two countries.

The talks also focused on developing the International North-South Transport Corridor, which could strengthen Afghanistan’s role as a regional transit route and improve its access to markets in Central Asia and beyond.

The proposed Trans-Afghan railway could further enhance Afghanistan’s position as a regional transit hub. Kazakhstan, Uzbekistan and the United Arab Emirates recently signed a memorandum of understanding on the project, which is estimated to cost about $5 billion and take around five years to complete.

Russian customs data shows that bilateral trade reached about $326 million in 2025, while Afghan figures put the total at approximately $590 million. Both sides, however, reported that trade had doubled compared with 2024.

Russia’s main exports to Afghanistan include natural gas, petrol, diesel, wheat, wheat flour, sunflower oil and other agricultural products.

Afghanistan’s exports to Russia remain considerably smaller, at about $4 million, and consist mainly of fresh and dried fruit, including raisins, dried apricots, pomegranates, grapes, apples and cherries. Other exports include cotton, watermelons, medicinal plants and some mineral products.

If the current growth rate continues, bilateral trade based on Russian statistics could reach approximately $815 million in 2026.

Officials say improved transport links and stronger business-to-business cooperation could further expand economic ties between Afghanistan and Russia.

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Afghan products attract Saudi buyers at major food expo in Jeddah

At two international exhibitions last year, Afghan businesses supported by the programme secured more than $25 million in trade prospects.

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Five Afghan businesses showcased a range of Afghanistan’s well-known agricultural and food products at the Saudi Food Show 2026 in Jeddah, Saudi Arabia, with their products attracting strong interest from Saudi buyers.

The expo was held from September 27 to 29, 2026, providing Afghan companies with an opportunity to connect directly with buyers, distributors and representatives of major retail chains.

The businesses presented dried fruits, nuts, spices, pomegranate juice and fruit concentrates, highlighting Afghanistan’s potential in the agricultural and food export sector.

Their participation was supported through the Afghanistan Community Resilience Programme, funded by the European Union and jointly implemented by UNDP, FAO, IOM and UNODC. The programme focuses on strengthening vulnerable Afghan families and communities affected by the ban on poppy cultivation, climate change and displacement, particularly in Kandahar, Helmand and Badghis.

According to UNDP, the programme works with Afghan businesses to access national and international markets, helping create demand for legal agricultural products and supporting farmers, processors and rural workers.

At two international exhibitions last year, Afghan businesses supported by the programme secured more than $25 million in trade prospects.

UNDP also said that, over the past five years, it has supported more than 13,000 agribusinesses and farmers in reaching new markets, while helping facilitate the sale of more than 23,000 metric tonnes of agricultural produce.

The next major international expo is Annapoorna Inter Food in Mumbai, India, scheduled for December 9–11, where another eight to 10 Afghan businesses are expected to participate.

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