Syria’s Economy Today: Exhibitions, Investments and Energy Reshape the Market

Syria's economy and business updates today — June 24, 2026 — with a practical reading of what these developments mean for traders, companies, suppliers and investors.

Executive Summary

Syria's economic scene is moving across several key tracks: activating exhibitions and exports, attracting agricultural and industrial investment, rehabilitating transport and logistics, advancing the oil and gas file, and simplifying government procedures through digital transformation.

The most important financial update is the continued circulation of the old currency until July 30, 2026, while the most important business updates include the UAE-based Silal agreements, Syrian-Emirati transport talks, and Chevron-related moves in the oil and gas sector.

First: Currency and the Financial Sector

The Central Bank of Syria confirmed that the old currency remains valid for circulation and retains its full legal payment power until the end of July 30, 2026. It can be used for payments and financial settlements during the coexistence period, with the possibility of exchanging it at officially approved points. This is especially important for companies, as contracts, invoices, payments and debt settlements must account for the transition between the two currencies to avoid accounting or legal disputes.

Economically, the decision gives the market additional breathing space, but it also requires companies to organize their records clearly: specify the currency used in invoices, document any payments in old or new Syrian pounds, and inform clients and suppliers of the company's approved conversion method.

Second: Gold and Prices

Gold prices in the Syrian market declined, with the price of 21-karat gold falling by 350 new Syrian pounds compared with the previous price. The selling price of 21-karat gold reached around 16,300 new pounds and the buying price 16,000, while 18-karat gold reached around 13,950 for selling and 13,650 for buying. The global ounce price was reported at 4,078 dollars according to the bulletin cited by SANA from the General Authority for Precious Metals Management.

This decline provides an indicator of market movement, but it is not enough on its own to confirm price stability. For traders, gold remains an important psychological indicator of inflation and exchange-rate expectations, especially during periods of currency replacement or liquidity changes.

Third: Food Expo 2026 and Food Industries

Food Expo 2026 stands out as one of the most important economic events of the week. The Minister of Agriculture described it as an economic and commercial platform that brings together producers, investors and exporters, helping open new markets for national products. The exhibition opened at the Damascus Fairgrounds with the participation of more than 300 local, Arab and international companies, and continues until June 25.

Its importance lies not only in the exhibition itself, but in the broader economic message: Syria is trying to reintroduce its food industries as an export-ready sector, especially agricultural and food products that can reach nearby markets such as the Gulf, Iraq and Lebanon.

The Syrian canned food industry also recorded a notable presence at Food Expo, showcasing products including vegetables, fruits, legumes and canned meats, along with developed products that respond to the trend toward healthier and safer food.

Fourth: UAE Agricultural Agreements with Silal

Among the most important business updates is the signing of two agreements with the UAE-based Silal Group during Food Expo. The first agreement focuses on studying locations inside Syria to launch agricultural investment projects, implement contract farming programs with farmers, and establish sorting and packaging centers to market products locally and for export.

The second agreement concerns organizing the direct purchase of crops from farmers. The first phase begins with potatoes, with the purchase of at least 16,000 tons for export to the UAE, with future cooperation expected to include tomatoes, watermelon, cucumber, eggplant and zucchini.

This development is important because it shifts agriculture from random seasonal sales toward a model closer to advance contracts and organized supply chains. For farmers, logistics companies, cold storage providers and packaging centers, this could be a real opportunity if implemented in practice.

Fifth: Transport, Logistics and Infrastructure Rehabilitation

The Syrian Minister of Transport discussed cooperation in land transport and logistics with a delegation from the UAE Ministry of Energy and Infrastructure. The figures presented are significant: the existing railway network is around 2,500 kilometers long, with 1,052 kilometers in service. The total road network is 45,349 kilometers, including 9,058 kilometers of central roads and 1,618 kilometers of highways, in addition to about one thousand bridges, 86 of which have been damaged.

The meeting also addressed proposed rehabilitation projects, including the Nasib-Damascus road, Damascus-Homs, Homs-Aleppo with the Saraqib-Idlib link, and road expansions toward Damascus-Palmyra-Deir ez-Zor. Discussions with the World Bank were also mentioned regarding a 200-million-dollar grant to support emergency rehabilitation of the railway network.

This file is fundamental to any commercial or industrial activity, as transport costs in Syria directly affect the prices of building materials, food, fuel and exports. Improving roads and railways may reduce shipping time and strengthen connections between governorates and markets.

Sixth: Oil, Gas and Chevron

In the energy sector, the CEO of the Syrian Petroleum Company, Youssef Qablawi, discussed with a Chevron delegation the steps to turn a memorandum of understanding related to offshore exploration in Block 1 into an executive contract. The two sides also discussed cooperation opportunities in the Iraqi oil pipeline project across Syrian territory, Kirkuk-Baniyas, and the possibility of Chevron contributing as a strategic partner.

This is an economically important and sensitive development. The involvement of a global company such as Chevron in exploration or oil infrastructure, even at the discussion stage, signals international interest in Syria's energy sector. However, the real impact will only become clear once executive contracts are signed and actual operations or exploration activities begin.

Seventh: Water and Agricultural Energy

A delegation from the Syrian Ministry of Energy discussed in Baghdad with the Iraqi Minister of Water Resources the strengthening of cooperation in water resource management and coordination of releases in the Euphrates River. The talks focused on data exchange, improved planning, and addressing the challenges of drought and fluctuating water inflows.

Economically, this file is directly linked to agricultural production, electricity and food. Any improvement in managing Euphrates water resources would affect agriculture in the Jazira and Euphrates regions, support crop stability and influence prices and food security.

Eighth: Simplifying Procedures and Standards

The Syrian Arab Organization for Standardization and Metrology launched its new visual identity and one-stop-window service in Damascus, as part of efforts to improve services, simplify procedures and reduce time and effort. The organization emphasized that standards and quality are a bridge to global markets and a foundation for improving competitiveness.

This update is important for industry and exports. Any company seeking to enter foreign markets needs certificates, standards, conformity and documentation. If the one-stop-window service succeeds in reducing complexity, it could help manufacturers and exporters move more quickly.

Ninth: Entrepreneurship and Project Empowerment

The Federation of Syrian Chambers of Commerce issued a decision to form the Board of Syrian Youth and Entrepreneurs, headed by Ziad Hussameddin Naoura and including 18 members for a three-year term. The stated goal is to support the role of youth in economic activity and strengthen their participation in developing the business and entrepreneurship environment.

The Industrial Businesswomen Committee at the Damascus and Rural Damascus Chamber of Industry also discussed support for small and micro-enterprises, expanding production and marketing opportunities, opening new markets for Syrian products, and participating in external exhibitions such as Syriax Oman and Syriax Jeddah.

These movements indicate an attempt to activate small and medium-sized businesses, not only large investments. This is important because SMEs are usually among the fastest sectors in creating jobs and circulating local market activity.

Tenth: Damascus Securities Exchange

The latest available data from SANA on the Damascus Securities Exchange indicates that trading rose on Sunday, June 21. The value of trading reached 36.315 million Syrian pounds across 405 transactions, with a trading volume of 1.742 million shares. One large block deal worth 24.024 million pounds for 1.2 million shares supported overall liquidity.

This does not yet indicate the presence of a strong capital market, but it is a sign of gradual movement. If disclosures continue and liquidity rises, the Damascus Securities Exchange may later become an important financing channel for companies, especially in banking, insurance and industry.

Eleventh: Buildex and Construction Investment

Among the important economic updates of recent days, the Minister of Finance announced from Buildex the signing of 21 official contracts, with other undisclosed contracts also present, the entry of new companies into the Syrian market, and the shift of some importers toward establishing local factories. He also referred to the participation of more than 1,400 brands from over 50 countries.

This is especially important for the construction sector, as it shows that Buildex was not merely a product exhibition but became a platform for contracts and partnerships. For a platform such as Imdad, this confirms the growing need for digital tools that bring together companies, suppliers, contractors and quotation requests in one place.

Twelfth: Aviation and Connecting Syria to Markets

Economic sources announced preparations to launch direct flights between Damascus and Amsterdam next month, after completing technical, legal and regulatory steps, which supports the return of air connectivity with Europe.

Air Arabia also announced the launch of direct flights between Sharjah and Aleppo starting July 4, 2026, with the service expected to operate daily, strengthening the connection between Syria and the UAE.

For business, aviation is not only about tourism. It facilitates the movement of businesspeople, light cargo, trade delegations and investment visits, while also sending confidence signals to foreign markets.

Analytical Conclusion

The overall direction of today's economy and business news indicates that Syria is moving along two parallel tracks: an internal reorganization path through currency management, standards, one-stop services, entrepreneurship and transport; and an external opening path through the UAE, Chevron, exhibitions, aviation and agricultural and food exports.

The most promising sectors at present appear to be contract farming, food industries, building materials, transport and logistics, energy, and conformity and export services. The most notable challenges remain currency stability, clarity of tax regulations, the pace of infrastructure project implementation, and the creation of a clear payment and contracting environment for companies.

For companies, the best step now is to prepare their commercial profiles digitally: clear company profiles, categorized products and services, the ability to receive quotation requests, documented previous projects, and ready-to-send offers. The market is moving toward organized opportunities, and companies that appear clearly and respond quickly will be best positioned to benefit