Syria inks deal with UAE firm for Tartus Port

DAMASCUS

Syria and the United Arab Emirates have signed an $800 million agreement for the development and operation of Tartus Port, the Syrian state news agency said on May 16.

The deal was concluded between Syria’s General Directorate of Ports and Border Crossings and Dubai-based logistics giant DP World.

Under the agreement, the two sides will cooperate on the development, management and operation of a multipurpose terminal at Tartus Port.

The partnership also extends to the establishment of industrial zones and cargo transit hubs in strategic locations across Syria.

The agreement comes amid of U.S. President Donald Trump’s recent Gulf tour, during which he pledged to lift sanctions on Syria. In Riyadh, Trump also held a meeting with Syria’s new leader, Ahmad al-Sharaa.

In April 2019, Russia signed a 49-year lease agreement for Tartous Port with Syria’s former President Bashar al-Assad. The deal granted the Russian company Stroytransgaz the rights to modernize and operate the port, with projected investments exceeding $500 million.

However, the agreement was annulled by Syria’s new government following the fall of Assad in December 2024.

On May 1, Syria also signed a 30-year contract with French shipping giant CMA CGM to develop and run the port of Latakia.

Joseph Dakak, CMA CGM's regional director, said he was "pleased today to announce the signing of an investment and management contract for the port of Latakia for the next 30 years.”