Syrian Business Owners Applaud EU’s Decision to Lift Sanctions

The recent decision by the European Union (EU) to lift sanctions on Syria has been warmly welcomed by Syrian business owners, marking a significant development in the country’s economic and political landscape. Observers have described this move as the most substantial easing of Western pressure on Damascus in over a decade, signaling a potential turning point for Syria after years of economic isolation and hardship caused by sanctions imposed by Western nations.

This EU decision follows a similar announcement made by the United States in mid-May, indicating a coordinated shift in Western policy towards Syria. The lifting of sanctions is seen as an important step toward stabilizing Syria’s economy and improving security conditions in the country. Syrian Foreign Minister Asaad al-Shaibani praised the EU’s action, emphasizing that it would strengthen Syria’s security and contribute to its stability after years of conflict and international pressure.

For many Syrian entrepreneurs and business owners, the lifting of sanctions represents renewed hope for rebuilding their businesses and livelihoods. Sanctions had long cut Syria off from international markets and trade, severely limiting access to essential resources, raw materials, and machinery needed for production. The restrictions had also deterred many foreign companies and investors from engaging with Syria, isolating the country economically and politically.

Local business owners like Hassan Bandakji have reported positive changes since the sanctions began to lift. Bandakji told Al Jazeera that companies previously forced out of Syria and those who had ceased business relations due to sanctions are now reaching out to reestablish contact. This renewed interest from international companies and producers suggests a reopening of the Syrian market and potential for economic revitalization.

Similarly, Ali Sheikh Kweider, who manages a factory near Damascus, highlighted the challenges faced under sanctions, especially the difficulty in obtaining raw materials and automated production lines. For years, these obstacles hindered the growth and efficiency of Syrian industries. With the easing of sanctions, Kweider and others hope to resume normal operations and expand production to meet both local and regional demands.

The sanctions imposed by the EU and the US were extensive and targeted the government of former Syrian President Bashar al-Assad, who was ousted from power during a rebel offensive in December of the previous year. These sanctions were designed to pressure the Assad regime but also had widespread effects on the Syrian economy and its civilian population. The sanctions disrupted supply chains and trade routes, exacerbating economic difficulties in an already war-torn country.

As the sanctions lift, the Syrian government and local businesses are optimistic about the potential for economic recovery and rebuilding. While challenges remain, including political instability and ongoing security concerns, the easing of sanctions is viewed as a critical step towards reengaging Syria with the international community and fostering economic growth.

In summary, the EU’s decision to lift sanctions on Syria, following a similar move by the US, has been met with optimism and relief by Syrian business owners. It marks the most significant reduction in Western pressure on the country in over a decade, promising renewed opportunities for trade, investment, and economic development. Business owners like Hassan Bandakji and Ali Sheikh Kweider see this as a chance to reconnect with international partners, resume production, and rebuild Syria’s shattered economy after years of isolation and hardship. The move could potentially pave the way for greater stability and prosperity in Syria’s future.