U.S.-Syria Business Council Launches in Washington, D.C.

Associated Press

25-06-2025

Council Convenes First-Ever High-Level Syria Banking Roundtable
WASHINGTON, June 25, 2025 /PRNewswire/ -- In a landmark step toward rebuilding bilateral commercial and financial ties between the United States and Syria, the U.S.–Syria Business Council (USSBC) has officially launched operations as an independent, nonprofit trade association based in Washington, D.C. The Council's formation comes at a pivotal moment following a high-level meeting between U.S. President Donald J. Trump and Syrian interim President Ahmed Al-Sharaa, during which the White House announced the beginning of sanctions relief and signaled a renewed commitment to constructive engagement.
On the occasion of the Council's historic launch, His Excellency Dr. Nedal Alchaar, Minister of Economy and Industry, stated: 'At a time when we are witnessing remarkable global transformations, we must appreciate and respect the noble stance of the United States of America toward Syria. Syria, which has endured so much due to empty positions and misleading slogans, is now ready to rise from the rubble and return once again as an active partner in building a promising and dignified civilization, just as it has been for thousands of years.'
In the days following its establishment, the USSBC convened a landmark banking roundtable, gathering senior representatives from over 15 major U.S. and international financial institutions, five of Syria's leading private banks, the Central Bank of Syria, and officials from the United States, United Kingdom, European Union, and United Nations. The session served as a rare and timely forum to begin rebuilding institutional trust and explore pathways for financial reconnection.
'This roundtable marked an important and necessary first step in reopening dialogue between both sides,' said Sameer Saboungi, Attorney, Policy Expert, and Founding Member of the USSBC. 'It lays the groundwork for restoring confidence in Syria's banking sector, re-establishing correspondent ties, and enabling the responsible flow of capital.'
The USSBC expresses its sincere appreciation to the teams at Foley Hoag LLP and Clifford Chance LLP, as well as Stephen Fallon of DBM Consulting, for their support in organizing the roundtable.
With a mission to accelerate trade, facilitate scientific and professional exchange, and support cross-border investment, the Council will focus on sectors vital to Syria's reconstruction and U.S. global growth. Planned activities include trade missions, investment forums, export-import advisory, and tailored market guidance for companies seeking to operate across either economy.
The Council is led by a Board of Directors and Advisory Board composed of influential leaders in law, finance, technology, and business. Founding members, thus far, include:
'The USSBC is proud to support U.S. companies investing in Syria's recovery and growth. As the first American firm to enter the Syrian telecom sector by launching 4G and 5G services in Northern Syria through FSN Telecom, we understand such ventures exemplify the kind of forward-looking engagement the Council aims to foster,' said Jay Salkini, Founder and CEO of Tecore, and Founding Member of the USSBC. 'We hope this milestone sets the stage for deeper, long-term economic ties between Syria and the United States—grounded in mutual prosperity and opportunity for years to come.'
Issam Ghreiwati, President of the Damascus Chamber of Commerce and Founding Member of the USSBC, emphasized that 'the Council represents a promising economic platform to support Syria's rebuilding phase and will contribute to establishing a solid economic and trade partnership between Damascus and Washington'.
The USSBC invites businesses, investors, and institutions to collaborate in shaping this new chapter of U.S.–Syria economic cooperation. As a trusted platform for knowledge exchange, strategic insight, and sector-specific collaboration, the Council is committed to empowering stakeholders in both countries to unlock long-term economic potential.
To learn more or explore opportunities for involvement, please contact:
[email protected]
www.ussyriabc.org
About the U.S.–Syria Business Council
The U.S.–Syria Business Council (USSBC) is an independent, nonprofit organization based in Washington, D.C., dedicated to fostering bilateral trade, enhancing scientific and professional exchange, and guiding investment between the United States and Syria. Through strategic advisory, targeted initiatives, and cross-border collaboration, the USSBC serves as a trusted platform for empowering U.S. and Syrian businesses to thrive in both markets.
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SOURCE U.S.-Syria Business Council