BY EMMANUEL OGBONNA
Syria is set to participate in a closed-door session with finance ministers and central bank governors from the Group of Seven nations in Paris on Monday, marking another significant step in the country’s gradual return to international diplomacy and global financial institutions following the fall of former president Bashar al-Assad less than two years ago.
According to a person familiar with the discussions, Syrian Finance Minister Yisr Barnieh is expected to take part in portions of the high-level meetings, where officials are expected to focus on Syria’s economic recovery, reconstruction efforts and the challenges involved in reconnecting the country to the global financial system after years of war, sanctions and diplomatic isolation.
The participation of Syrian officials in the G7 finance track is being viewed by diplomats and analysts as a major symbolic development that reflects changing geopolitical dynamics in the Middle East and a growing willingness among major economies to engage with the new government in Damascus.
The two-day gathering of G7 finance chiefs has largely centered on global economic instability, trade disputes, inflation concerns and the wider consequences of ongoing conflicts in the Middle East and Ukraine. Discussions have also included energy markets, debt pressures on developing economies and the impact of geopolitical tensions on global growth.
Officials familiar with the agenda said both Syria and Ukraine are expected to participate in certain parts of the broader discussions, underscoring the strategic importance Western governments now place on stabilizing countries viewed as critical to regional and international security.
Syria’s inclusion comes after sweeping political changes transformed the country’s position on the world stage. Since Assad’s removal from power, many Western and regional governments have gradually reopened diplomatic channels with Damascus, while several sanctions imposed during the civil war have been eased or suspended to support reconstruction and humanitarian recovery.
Despite those developments, Syria’s economy remains severely weakened after more than a decade of conflict that devastated infrastructure, displaced millions of people and crippled state institutions. Large parts of the country continue to face shortages of electricity, fuel, housing and investment, while unemployment and inflation remain major challenges.
International banks and investors have also remained cautious about re-entering the Syrian market due to lingering sanctions concerns, legal uncertainties and the technical difficulties involved in reconnecting Syria to international payment systems and financial networks.
The person familiar with the Paris discussions said Syria’s participation was tied to broader preparations ahead of the upcoming G7 leaders’ summit scheduled for June. The move also reflects an effort by major economies to establish closer communication with the administration of Syrian President Ahmed al-Sharaa, whose government has sought to position itself as a stabilizing force in a rapidly changing region.
For Damascus, involvement in the G7 financial discussions represents another milestone in its campaign to restore international legitimacy, secure foreign investment and attract support for reconstruction projects expected to require hundreds of billions of dollars over the coming years.
Syrian officials have increasingly argued that the country can no longer remain economically isolated if regional stability is to improve. The government has been pushing to rebuild trade links, revive banking cooperation and encourage multinational companies to explore investment opportunities in sectors including energy, transport, construction and telecommunications.
Diplomats say the discussions in Paris are likely to focus heavily on practical issues surrounding Syria’s economic reintegration, including banking compliance standards, debt restructuring, international development assistance and mechanisms for facilitating legal cross-border financial transactions.
Western governments remain divided over how quickly Syria should be fully reintegrated into global institutions, with some countries favoring a cautious approach tied to political reforms and human rights guarantees, while others argue that economic stabilization is necessary to prevent renewed instability across the region.
Still, Syria’s presence at a forum involving the world’s leading industrialized democracies would have been almost unthinkable only a few years ago, highlighting how dramatically the diplomatic landscape surrounding Damascus has shifted since Assad’s departure.
Analysts say the invitation also reflects broader geopolitical recalculations as global powers attempt to adapt to changing alliances, ongoing regional conflicts and economic disruptions linked to wars in both the Middle East and Eastern Europe.
For the Syrian government, the Paris meetings provide an opportunity to demonstrate that Damascus is re-emerging as an influential regional actor and a country increasingly viewed as central to future political and economic arrangements across the Middle East.
The outcome of the discussions is unlikely to produce immediate breakthroughs, but officials and analysts say Syria’s inclusion alone represents a significant diplomatic signal that major international powers are increasingly prepared to engage directly with the country’s post-Assad leadership as part of wider efforts to stabilize the region and reshape global economic partnerships.
Original article
Comments