French President Emmanuel Macron has secured a foothold in the new Syria by agreeing to build expansive joint economic committees designed to accelerate reconstruction. The deal, struck during a landmark visit to Damascus, aims to unlock French investment in energy and banking while restoring a relationship shattered by years of war and isolation.
From isolation to investment
The agreement was sealed during a meeting between President Macron and Syria’s leader, Ahmed al-Sharaa, in Damascus. Macron stated unequivocally that France is ready to move from the sidelines to the centre of Syria’s reconstruction, particularly targeting the energy and banking sectors.
He noted that Paris intends to go beyond bilateral aid by actively facilitating the involvement of Gulf states in financing the country’s rebuilding efforts. “France is ready to be a partner,” Macron said, stressing a commitment to fostering long-term trust and co-operation.
A model partnership
For Damascus, the détente with Paris is intended to serve a broader strategic purpose. President al-Sharaa expressed his ambition to transform the Franco-Syrian relationship into a blueprint for future engagements with other nations. As the country works to reclaim its regional standing, al-Sharaa detailed ongoing internal reforms, including a major overhaul of the banking system and the modernisation of the maritime and air fleets.
Central to this economic re-engagement is the expansion of critical infrastructure. Al-Sharaa highlighted the strategic port of Latakia, where French shipping giant CMA CGM has taken a leading role. The company signed a €230 million agreement 14 months ago to develop the facility, and remarkably, committed a further €200 million less than a year later to increase its throughput capacity.
A comprehensive blueprint
Beyond the port, the Syrian president unveiled an ambitious, wide-ranging reconstruction plan designed to attract foreign capital. The proposals include the modernisation of airports and air navigation systems, energy exploration in Syria’s territorial waters, and the overhaul of electricity and water networks.
Further opportunities outlined by al-Sharaa target university hospitals, the food industry, digital infrastructure, and the civil registry system. Issuing a direct appeal to French investors, he declared, “Our industrial cities are ready to become a platform for your investments.”
