The Syrian government is negotiating to extend the contract it has with French shipping giant CMA CGM over the management of the port of Lattakia’s container terminal. The Ministry of Transport has established a committee to negotiate with the French company but that does not necessarily mean that the contract with LICT will be eventually extended.
On the eve of the Syrian conflict, half a dozen Western oil companies were active in Syria. Among these, Royal Dutch Shell and Total E&P, were the major players. However, the country’s descent into chaos and the subsequent imposition of Western sanctions on the oil sector led to the freezing of their activities. By the end of 2012, all Western companies had suspended their operations in Syria, declaring force majeure and freezing their assets.
The Syrian Telecommunications Company has begun improving the country’s telephone and internet infrastructure through a Chinese grant that includes Chinese communications equipment.
On October 18, the EU General Court issued six decisions ordering the Syrian government to repay 2017-2022 instalment dues for overdue loans totalling EUR 73 million and CHF 1.98 million.
In an apparent step towards global reintegration, a Syrian delegation made a rare appearance at the annual meeting of the WB and the IMF.
Efforts to resurrect the Kirkuk-Banias oil pipeline have recently gained momentum. However, financial constraints and political and security instability continue to deter the project's implementation.