EU agrees to restore fuller trade ties with Syria - Finance news and analysis from Global Banking & Finance Review
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EU agrees to restore fuller trade ties with Syria

Published by Global Banking & Finance Review

Posted on May 11, 2026

2 min read

· Last updated: May 11, 2026

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EU agrees to restore fuller trade ties with Syria

EU Restores Trade Cooperation with Syria

By Lili Bayer and Amina Ismail

Background of the Agreement

BRUSSELS, May 11 (Reuters) - EU foreign ministers agreed on Monday to restore improved trade ties with Syria, reinstating a cooperation agreement that had been suspended in 2011 when an uprising against then-leader Bashar al-Assad expanded into a 14-year civil war.

Significance of the Decision

The Council of the European Union, representing member states whose foreign ministers met in Brussels, said the move marked an important step towards strengthening bilateral relations between the EU and Syria.

Sanctions and Political Context

Sanctions Lifted and Syrian Reintegration

Most Western sanctions were lifted last year against Syria, which is seeking broader reintegration into the international community under President Ahmed al‑Sharaa, who led an alliance that ousted Assad at the end of 2024.

Details of the Cooperation Agreement

Reinstating the cooperation agreement would lift restrictions on imports of certain Syrian goods, including oil and petroleum products, as well as gold, precious metals and diamonds.

EU’s Political Message

The decision “sends a clear political signal” of the EU’s commitment to re-engage with Syria and support its economic recovery, the Council added.

Reporting Credits

(Reporting by Lili Bayer and Amina Ismail;Editing by Sudip Kar-Gupta)

Key Takeaways

  • The European Council’s decision reverses a suspension dating back to 2011, reinstating key trade provisions such as tariff and quantity liberalisation under the Cooperation Agreement
  • This move comes after the EU lifted all economic sanctions on Syria in May 2025 and follows President von der Leyen’s visit to Damascus in January 2026, which included announcements of a €620 million support package for 2026‑27
  • The restoration of full trade ties serves as a political signal of EU commitment to Syria’s socio‑economic recovery and will facilitate upcoming high‑level dialogues and cooperation

Frequently Asked Questions

What decision did the European Council make regarding Syria?
The European Council lifted the partial suspension of the cooperation agreement with Syria, restoring fuller trade ties.
What is the significance of restoring trade ties between the EU and Syria?
Restoring trade ties marks an important step towards strengthening EU-Syria bilateral relations and supporting Syria's economic recovery.
What message does the EU's decision send?
The decision signals the EU’s commitment to re-engaging with Syria and supporting its economic recovery.
Who reported on the EU's decision to re-engage with Syria?
Lili Bayer and Amina Ismail reported the news, with editing by Sudip Kar-Gupta.

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