Syria and Saudi Arabia sign energy cooperation agreement
ISTANBUL
Syria and Saudi Arabia signed a memorandum of understanding on July 27 to strengthen bilateral cooperation in several energy sectors, including electricity, oil, and gas.
According to Syria’s state news agency SANA, the agreement covers collaboration in electricity generation, renewable energy, regional power connectivity, petroleum, petrochemicals, energy transition technologies, human resource development, innovation, and technology transfer.
The memorandum followed an official visit by Syrian Energy Minister Mohammad al-Bashir to Saudi Arabia, where he met with several senior officials.
The Syrian Energy Ministry said Bashir’s visit aims to “bolster bilateral cooperation and explore investment opportunities in oil, electricity, and water resources.”
On July 24, Damascus and Riyadh announced the establishment of a joint business council during the Syrian-Saudi Investment Forum held in Damascus.
On July 25, the council’s chairman, Mohammed bin Abdullah Abunayyan, announced the launch of a five-year action plan to deepen economic cooperation between the two nations.
Since the ouster of Bashar al-Assad’s regime in late 2024, Syria’s new administration has launched economic and political reforms and intensified efforts to build partnerships with regional and international players.
