German Investors in Damascus: Barnieh Discusses Upgrading the Banking Sector and Encouraging German Firms to Enter the Syrian Market
Finance Minister Barnieh met a German investor delegation to discuss investment in Syria and upgrading the banking sector to European standards — the first announced German investment engagement with the ministry.
Damascus — 21 October 2026
Finance Minister Mohammad Yusr Barnieh met on Tuesday (20 October) with a delegation of German investors to discuss investment opportunities in Syria and ways to expand financial and economic cooperation between the two countries, in the presence of Germany’s Chargé d’Affaires in Damascus, Markus Hecken — the first publicly announced meeting of its kind between the minister and a German investment delegation after years of estrangement.
According to the Ministry of Finance’s official channels, the meeting came as part of Syrian efforts to draw on German expertise in reconstruction, technology and the development of the banking sector.
Upgrading the banking sector to European standards
During the talks, Minister Barnieh stressed the need to develop Syria’s banking sector by strengthening cooperation with German institutions and banks and benefiting from their expertise to help apply European standards, alongside exploring public-private partnership opportunities.
He also underlined the importance of entrenching transparency, governance and clarity of vision, welcoming stronger direct cooperation with the German side, including through the German House in Syria — the premises opened by Germany’s Federal Ministry for Economic Cooperation and Development at the Golden Mazzeh Hotel in Damascus in early September, housing the German Agency for International Cooperation (GIZ) and the KfW Development Bank.
Target sectors: trade, logistics, energy and knowledge
Barnieh affirmed the importance of strengthening the partnership with Germany and the European Union, and of encouraging German companies to enter the Syrian market and invest in trade, logistics services, energy and knowledge — reinforcing Syria’s position as a link between East and West.
For its part, the German delegation noted the progress it observed in Syria’s economic and financial reform tracks.
The talks extend a meeting Barnieh held last June with Serap Güler, Minister of State at Germany’s Federal Foreign Office and a member of parliament, to discuss expanding economic and financial cooperation, supporting recovery and development efforts, and enhancing investment opportunities.
The meeting gains its significance as the first announced German investment engagement with the Ministry of Finance since the lifting of European sanctions, at a time when regional and international companies are competing for a foothold in the Syrian market.