Saudi Minister Of Industry Explores Industrial Cooperation And Joint Investments With Syrian Counterpart

Saudi Arabia Minister of Industry and Mineral Resources Bandar Alkhorayef recently held discussions with Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar at the ministry's headquarters. Their meeting focused on enhancing cooperation in the industrial sector and exploring avenues for industrial integration between Saudi Arabia and Syria. They also examined opportunities for joint investments and the exchange of expertise.

Alkhorayef emphasised the robust Saudi-Syrian relations, highlighting the leadership’s commitment to expanding cooperation across various sectors, especially industry and mining. He praised the outcomes of last month's Saudi-Syrian Investment Forum in Damascus, which was under the patronage of Syrian President Ahmad Al-Sharaa. Several agreements were signed during this forum in key sectors like industry and mining.

The ministers agreed to establish joint technical working groups to further industrial integration initiatives between their countries. This collaboration aims to leverage each nation's strengths for mutual benefit, particularly in advancing industrial capabilities. The formation of these groups is a step towards achieving greater synergy in their industrial sectors.

Alkhorayef expressed optimism about the role of the industrial sector in Syria's economic recovery. He noted that this aligns with Saudi Arabia’s National Industrial Strategy and broader regional integration plans. The minister also extended an invitation to his Syrian counterpart to attend the 21st General Conference of the United Nations Industrial Development Organization (UNIDO) in Riyadh this November.

Dr. Al-Shaar highlighted Syria's interest in strengthening industrial and investment partnerships with Saudi Arabia. He pointed out that Syria's reconstruction phase presents significant opportunities for Saudi private sector investments, particularly in industry. He stressed that Syria could greatly benefit from Saudi Arabia's advanced industrial expertise during this period.

The discussions underscored both nations' commitment to fostering stronger ties through collaborative efforts in industry and mining. By focusing on these areas, they aim to create a foundation for sustainable economic growth and development, benefiting both countries.

The meeting concluded with a shared vision for future cooperation, emphasizing the importance of building resilient partnerships that can withstand economic challenges while promoting prosperity through strategic investments and collaborations.

With inputs from SPA