Subjects – Syria Report



During Iranian President Ibrahim Raisi’s recent visit to Syria, the Iranian and Syrian governments signed several memorandums of understanding to bolster economic and trade ties and resolve several pending issues that have hindered economic relations between the two countries for over a decade. However, despite the commotion around the visit, it seems to have yielded limited results so far.
The Syrian government is preparing to put three power turbines into operation, although acute shortages of natural gas and fuel will continue to limit the potential for increased electricity production.
President Bashar Al-Assad and his family made their first visit to the Aleppo governorate since the beginning of the 2011 conflict. They met with several economic, social, and religious figures, participated in social engagements, and visited various infrastructural projects, including the Aleppo Thermal Power Plant, which Iran's MAPNA Group recently rehabilitated.


The following updated and expanded report describes the main components of Iranian-Syrian economic relations. The first two sections will examine trade and economic and business relations between the two countries prior to and following the 2011 conflict. The third will provide an overview of Iranian involvement in a variety of sectors, while the fourth will elaborate on Iran's growing economic foothold in the country since 2020. Finally, the fifth section will provide insight into the prospects of Iranian-Syrian relations.


Mapna is an Iranian engineering company specialised in power generation, rail transport, and oil and gas.