BAKU, Azerbaijan, September 25. The Syria-Azerbaijan Joint Business Council has been established, Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar said at the 2nd Azerbaijan International Investment Forum held in Baku today, Trend's correspondent reports from the event.
He noted that Syria has taken concrete steps toward restoring business ties with other countries.
"I visited Uzbekistan just a week ago. Together with my friend Laziz, we initiated the creation of structures we call Joint Business Councils. Today, together with Azerbaijani Minister of Economy Mikayil Jabbarov, we are announcing the establishment of the Syria-Azerbaijan Joint Business Council," the minister said.
According to the minister, shifts in global economic and geopolitical processes in recent years have led to a restructuring of the global economic system.
"Today, we are witnessing the restructuring of the entire global economy. This process encompasses all areas, ranging from production to trade routes, energy, and marketing. Globalization, too, is evolving from the form we once knew into a model of selective globalization," he said.
He noted that economic resilience is currently becoming a factor as important as—and in some cases, even more important than—efficiency. "While the primary focus used to be on low costs and the principle of 'on-time delivery,' the question of how to respond to unexpected situations has now come to the forefront. Consequently, resilience has become a crucial concept," the minister emphasized.
Mohammad Nidal Al-Shaar noted that all these processes have been further accelerated by the rapid development of artificial intelligence.
The minister stated that one of the key tasks facing Syria is the restoration of economic ties with the rest of the world.
"Syria, having faced severe challenges and limited financial resources over the past 15 years, must overcome these obstacles. First and foremost, we need to restore our global connections and resume cooperation, while simultaneously rebuilding our country and strengthening our presence on the international stage," he noted.
According to him, Syria is currently building a different economic system and creating conditions to attract foreign investment.
"Syria is a completely different country today. We are a nation founded on peace, friendship, and openness. We have transitioned to a free-market economy and no longer define ourselves as a socialist state. The entire landscape has changed," the minister stated. Mohammad Nidal al-Shaar noted that the country's legislation is also being adapted to attract investors.
"Our country is open, and today we are not creating any obstacles. We are updating our legislation. This is crucial for all investors. While our laws were previously drafted to serve specific, narrow interests, our goal today is to open up our economy and welcome investors," he added.
The minister also said that Syria is seeking not merely financial resources, but partnerships based on long-term, mutual benefit.
"We aren’t simply looking for capital; we are seeking 'smart' and high-quality capital, as well as partnerships. We are not asking for aid. We are looking for investors who wish to partner with us. We also aim to restore the technology transfer that was lost over the past 15 years," the minister emphasized.
He invited investors to come to the country and select the sectors best suited to their interests. "We tell investors: come and do what you do best. We will not present you with a list of our needs; our needs are already known. You simply come, choose the sector that suits you and where you can succeed, and become our partner," said Mohammad Nidal al-Shaar.
According to the minister, this approach differs from the traditional model of attracting foreign direct investment.
Mohammad Nidal al-Shaar emphasized that Syria is striving to restore the international economic ties it lost over recent decades, and that this process will proceed in parallel with the country's reconstruction.
