French President Emmanuel Macron and Syrian President Ahmed Al-Sharaa announced a strategic economic partnership on Tuesday to support Syria’s reconstruction. The agreement, finalized during Macron’s visit to Syria, focuses on banking reform, energy exploration, and logistics to stabilize the economy.
France and Syria Establish Strategic Economic Partnership
President Emmanuel Macron and President Ahmed Al-Sharaa formalized a cooperation framework designed to attract foreign investment to Syria. According to Al-Sharaa, the Syrian government is introducing a new legal and financial framework to encourage early investment, specifically targeting the banking sector and the development of industrial cities.
France and the European Union have pledged to support the reconstruction process to facilitate the voluntary return of refugees, Macron stated. To manage this transition, the two nations established joint economic committees. Macron specifically highlighted the role of French companies in contributing to rebuilding the country and noted that France was supporting Syria’s central bank as part of broader economic reforms.
Major Commercial Agreements and Asset Recovery
The visit resulted in several concrete commercial contracts and a significant diplomatic gesture regarding seized assets:
- Logistics: The shipping and logistics group CMA CGM signed a partnership to manage air cargo operations at Damascus International Airport. This follows a May contract to operate two inland dry ports, according to the French presidency.
- Energy: TotalEnergies Chief Executive Patrick Pouyanné confirmed upcoming talks with Syrian officials regarding offshore oil exploration in the eastern Mediterranean. TotalEnergies previously signed a memorandum of understanding with the Syrian Petroleum Company in May.
- Asset Return: The Élysée Palace announced that France and Syria have begun the process of returning €51 million in assets previously confiscated from Rifaat Al-Assad.
The energy partnership is particularly strategic; TotalEnergies has highlighted Syria’s potential role as an alternative transit route for Iraqi oil exports, which would reduce regional reliance on the Strait of Hormuz.
Security Breach: Explosions in Damascus
Two improvised explosive devices (IEDs) detonated near the Four Seasons Hotel in Damascus on Tuesday, where President Macron had spent the night. Syrian authorities reported that 18 people were injured, including four police officers. The Interior Ministry stated that security forces had detected the devices and were attempting to defuse them when they exploded.
Interior Ministry spokesperson Nour Al-Din Al-Baba told reporters that one device was hidden in a parked vehicle and another in a rubbish container. Al-Baba stated the attack aimed to undermine Syrian-French relations rather than target state institutions. The Élysée Palace confirmed that Macron was unaware of the blasts at the time and proceeded with his meetings with Al-Sharaa without interruption.
Regional Response to Damascus Attacks
The bombings triggered immediate condemnation from several neighboring states. Saudi Arabia described the incident as a terrorist attack intended to undermine Syria’s security and stability. Qatar and Jordan both issued statements of solidarity with Damascus, while Egypt denounced the violence as acts of terrorism.
| Entity | Action/Position | Primary Objective |
|---|---|---|
| France | Strategic Partnership | Banking reform and infrastructure rebuild |
| CMA CGM | Logistics Agreement | Air cargo and dry port operations |
| TotalEnergies | Energy MOU | Offshore oil and Iraqi oil transit |
| Syrian Gov | Legal Reform | Attracting foreign investment |
Macron’s visit marks a significant shift in bilateral relations following the fall of Bashar Al-Assad’s government in December 2024. While the security incident highlights persistent volatility, the signing of the comprehensive cooperation framework suggests a prioritized push toward economic normalization.
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