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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

1 min read

· Last updated: May 11, 2026

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EU Restores Fuller Trade Ties with Syria, Aiming to Boost Economic Recovery

European Council Decision on Syria Trade Relations

Restoration of Cooperation Agreement

BRUSSELS, May 11 (Reuters) - The European Council said on Monday it had adopted a decision terminating the partial suspension of the cooperation agreement between the European Economic Community and the Syrian Arab Republic, thereby restoring fuller trade ties with Syria.

Strengthening Bilateral Relations

It said the move marked an important step towards strengthening bilateral relations between the European Union and Syria.

EU’s Commitment to Syria’s Economic Recovery

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

(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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