Syrian Minister of Economy: Lifting Western sanctions is a "qualitative leap" that brings Syria back to the global financial system.

Syrian Minister of Economy and Industry, Mohammad Nidal Al-Sha'ar, emphasized that the decision to lift American and European sanctions on Syria represents a "qualitative leap" that will contribute to reintegrating the national economy into the global banking system, paving the way for broad economic openness.

This came during exclusive statements by Minister Al-Sha'ar to "Al Arabiya" channel yesterday, Monday, June 9th.

Al-Sha'ar explained that the government is working on implementing a series of transparent reforms to enhance financial confidence and attract foreign investments, especially in the reconstruction and rehabilitation of damaged infrastructure sectors, despite the challenges associated with rebuilding relations with international financial institutions.

The Minister described the recent decision to lift sanctions as a "fundamental transformation" that ends years of economic isolation, enabling Syrian companies to freely engage with global financial institutions, stimulating investment and contributing to achieving monetary stability.

He added: "Syria represents fertile ground for investment opportunities in various fields," calling on Syrian businessmen to return and contribute to development.

He also expected the decision to have a positive impact on the banking and commercial sectors by facilitating financial transfers, improving the supply of essential goods, and reducing transportation and import costs.

In a related context, Al-Sha'ar affirmed the government's commitment to a well-thought-out financial and administrative openness plan, based on the economic reality and stage requirements, aiming to activate economic movement and create an attractive environment for investments.

In previous statements, the Minister indicated that lifting sanctions will allow the Syrian economy to regain its momentum and integrate with global markets, as well as open the door for Syrian financial institutions to cooperate with their international counterparts after decades of restrictions lasting "more than 60 years."