U.S. Chamber Sends 80-Delegate Business Mission to Syria

Fifty U.S. companies and more than 80 delegates have completed a landmark business mission to Damascus, the U.S. Chamber of Commerce announced, in the most significant American commercial engagement with Syria since the outbreak of a civil war that has lasted 14 years and followed decades of sanctions.

The delegation met the most senior tiers of the Syrian state. The Chamber's list of counterparts includes the Minister of Finance, the Minister of Economy and Industry, the Minister of Communications and Information Technology, the Minister of Health, the Minister of Tourism, the Minister of Transport, and the Minister of Public Works and Housing. Talks also involved the Governor of the Central Bank of Syria, the Governor of Deir ez Zor, the CEO of the Syrian Investment Authority, the Deputy Minister of Energy, officials from the Syrian Petroleum Company and the Syrian Sovereign Fund, and the Chairman of the Federation of Syrian Chambers of Commerce.

The breadth of the Syrian cabinet-level turnout points to the range of sectors on the table: finance, energy, telecoms, health, transport, tourism and construction.

"What we have heard consistently from Syrian officials and business leaders is a strong desire to partner with American companies: to attract American capital, deploy American innovation, and build using American standards and technologies," said Steve Lutes, U.S. Chamber Vice President of Middle East Affairs, who led the framing of the mission's purpose.

Lutes described an unusual reception. "The enthusiasm and genuine gratitude we have encountered from Syrians across government and business is remarkable, and it speaks to just how significant this moment is for Syria and for the U.S.-Syria relationship," he said.

For American companies, Lutes cast the opening as a commercial play with a reconstruction dividend. "For American companies, this is a rare opportunity to do well by doing good: to pursue real commercial opportunities while playing an active role in Syria's economic revitalization," he said. "We are here to open doors, build relationships, and establish the confidence, trust, and business environment that will lead to tangible results, helping Syria get back on track economically and take its rightful place in the global economy."

The delegation spanned American industry from multinational corporations to startups. Its stated purpose was twofold: give companies firsthand insight into Syria's business climate, and map the commercial opportunities available as the country reopens to international investment.

The Chamber attributed the mission's scale and depth to three factors: the commitment of Syria's leadership to economic, fiscal and governance reforms; support from the U.S. government for Syria's reconstruction; and the appetite of American companies to enter a market now formally open for business.

The engagement does not stop in Damascus. Next week the U.S. Chamber will host Syria's President and Foreign Minister in New York City, on the sidelines of the 81st session of the UN General Assembly — a follow-up that will test whether the goodwill of the Damascus visit converts into deal flow and, over time, into a sanctions-era market rebuilt to American commercial standards.