Syria, Saudi Arabia sign strategic deals, launch joint airline to boost investment, connectivity

DAMASCUS, Feb. 7 (Xinhua) -- Syria and Saudi Arabia on Saturday announced a series of strategic agreements, including establishing a joint airline, marking a significant step toward expanding economic cooperation.

The announcement was made at the People's Palace in Damascus under the patronage of Syrian interim leader Ahmed al-Sharaa, where officials from both countries unveiled "strategic contracts" spanning aviation, telecommunications, infrastructure, water and real estate development.

Syrian investment authority chief Talal al-Hilali said the agreements include the creation of a Syrian-Saudi airline to strengthen air connectivity, alongside projects to upgrade digital infrastructure and enhance telecommunications networks.

Saudi Investment Minister Khalid al-Falih, speaking at the ceremony, reaffirmed the kingdom's support for Syria's path toward recovery, growth and stability.

Al-Falih announced the launch of the Elaaf Investment Fund to support major projects in Syria and the reactivation of banking transfer channels between the two countries.

He added that the event witnessed the signing of an aviation agreement led by Saudi carrier Flynas, which selected Syria as its first overseas investment destination. Other deals featured the large-scale Silk Link digital infrastructure project, a major water agreement backed by SaudiArabia's ACWA Power, and the finalization of an agreement to operate and develop the Syrian Modern Cables Company.

Syrian energy authority chief Mohammed al-Bashir said that the agreements reflect Syria's commitment to advancing large-scale strategic projects, especially in energy and water. He called the meeting a "pivotal step" in expanding the Syrian-Saudi partnership.

Saudi Minister of Communications Abdullah al-Swaha acknowledged Syria's significant economic and political challenges but affirmed the country is now moving "in the right direction." The investment projects send a clear message, rooted in the deep historical and cultural ties between the two nations, al-Swaha said.

The agreements come amid Syria's broader efforts to rebuild its economy and infrastructure after years of conflict, as regional partners increasingly signal readiness to engage in long-term reconstruction and development initiatives. Enditem