Syrian President Ahmed al-Sharaa’s participation in the Group of Seven (G7) summit carries exceptional political and economic importance, as it marks the first Syrian attendance at head of state level in this economic and political forum since its founding in 1975. It reflects a new opening to channels of dialogue with major economies and offers an opportunity to present priorities for economic recovery, attract investment, and strengthen international cooperation.

Reuters reported in May, citing three informed sources, that Syria would participate as a guest at the G7 summit in France in June, represented by President Ahmed al-Sharaa, after he received an invitation. The invitation was hand-delivered to Syrian Finance Minister Mohammed Yisr Barnieh, who attended the group’s finance talks.

According to what the agency quoted a Syrian official as saying, Syria’s participation in the talks will likely focus on the country’s role as a “potential strategic hub for supply chains” following the closure of the Strait of Hormuz.

Strategically, Syrian attendance at international economic forums strengthens the national economy’s integration into global discussions on trade, investment, supply chains, food security, and energy. It also allows decision-makers to review modern economic experiences and policies and benefit from them when developing the business environment.

Enab Baladi seeks to highlight ways Syria can benefit from its participation in the G7 summit, scheduled between 15 and 17 June in Évian-les-Bains, southeastern France, and the standards Syria’s economic structure requires to open up to Western and European markets.

Speaking to Enab Baladi, fiscal and tax policy expert Louay Homsi, a member of the US-Syrian Business Council (USSYBC), said Syria’s participation in the G7 summit represents a historic opportunity to strengthen its political and economic presence on the international stage and open new channels for dialogue and cooperation with major economies, helping encourage global companies to study direct investment opportunities in the Syrian market.

Expert: Participation Reflects International Interest in Syria’s Future

Homsi believes this participation goes beyond its traditional diplomatic dimension, as it offers an opportunity to announce the launch of a new phase of economic, administrative, and institutional reform, strengthen the investment environment, and consolidate principles of governance and transparency, which would increase confidence among investors and international financial institutions in the future of Syria’s economy.

The invitation to Syria itself reflects growing interest in the country’s economic path, recovery opportunities, and integration into the global economy. But the true importance of this invitation does not lie in participation itself, but in how it is used, the same expert stressed.

The question today is how Syria can benefit from this historic opportunity to achieve the following goals:

• Strengthening investor confidence.
• Attracting capital.
• Accelerating its integration into the global economy.

One path that deserves attention is launching structured cooperation with the Organisation for Economic Co-operation and Development (OECD), and benefiting from its standards and expertise as a roadmap for developing institutions, improving the business environment, and increasing Syria’s attractiveness for long-term investment.

Building Trust Is Key to Attracting Investment

According to fiscal and tax policy expert Homsi, multinational companies (MNCs), especially those subject to international governance, compliance, and transparency requirements, place the quality of institutions and the stability of the regulatory environment at the top of the criteria they rely on when making investment decisions and entering markets emerging from conflict and sanctions.

The expert said the scale of available opportunities alone is not enough to attract investment, as investors attach great importance to several issues:

• Stability of laws and regulations.
• Efficiency of government institutions.
• Transparency of procedures.
• The financial sector’s ability to support economic activity.
• Effectiveness of the legal system and the level of compliance with international standards.

Therefore, attracting foreign investment to Syria requires more than tax incentives, financing programs, or promotional campaigns. It requires coordinated, harmonious, and continuous efforts by several ministries to strengthen transparency, improve the business environment, develop institutions, and consolidate legal, regulatory, and tax stability.

Syrian fiscal and tax policy expert Louay al-Homsi

Opportunity for Cooperation With the OECD

Fiscal and tax policy expert Louay Homsi said Syria’s participation in the G7 summit could be used to establish relations with the Paris based OECD, one of the leading international institutions specializing in economic and investment policies, governance, transparency, and public sector development.

The organization includes 38 countries that are among the world’s most advanced and competitive economies, according to Homsi. Although no Arab state is a member, its influence extends worldwide through the standards and practices relied on by investors, international financial institutions, and governments when assessing markets and investment opportunities.

For Syria, the organization’s importance does not lie in membership itself, but in benefiting from the standards it has developed to help countries:

• Improve the business environment.
• Strengthen transparency.
• Raise the efficiency of government institutions.
• Increase investor confidence in the Syrian state.

These standards provide a practical roadmap for any country seeking to improve its competitiveness and attract long term investment.

Cooperation with the International Monetary Fund and the World Bank remains essential to support economic recovery and reconstruction in Syria, according to the economic expert. The IMF helps strengthen the stability of fiscal and monetary policies, while the World Bank contributes to financing reconstruction projects, developing infrastructure, and building institutional capacity.

But stability and financing alone are not enough to attract foreign investment. Here, OECD standards play a role. Homsi stressed that when these institutions work in an integrated manner, they provide Syria with a balanced path that combines economic stability, development, and the attraction of long-term investment.

Need to Establish a National Task Force

The economic expert said the G7 summit is an appropriate opportunity for Syria to move from the stage of ambitions to the stage of implementation.

He proposed establishing a Syrian national task force for competitiveness and investment attraction, responsible for coordinating economic, financial, regulatory, legal, and tax reforms at the state level.

The team could include representatives from the Ministry of Finance, the General Commission for Taxes and Fees, the Central Bank of Syria, the Ministry of Economy and Industry, the Ministry of Foreign Affairs, investment bodies, the Ministry of Justice, and other relevant agencies. It could also benefit from the participation of representatives from the private sector, academia, and Syrian experts abroad, providing important international expertise and investment networks.

According to Homsi, the team’s mission would be to enhance Syria’s competitiveness as an investment destination by addressing files that matter to investors, such as:

• Stability of laws and regulations, and institutional efficiency.
• Development of the financial sector, governance, and transparency.
• Ease of doing business and investor protection.
• Settlement of commercial disputes.
• Combating tax evasion and strengthening international tax cooperation.
• Combating money laundering and corruption.

Syria must set reform priorities, coordinate technical cooperation with the OECD, IMF, World Bank, and international partners, and develop a long term roadmap to improve Syria’s economic and investment environment according to the best international standards.

He added that, most importantly, this team could form a practical mechanism to turn reform goals into tangible and measurable results. Its work under high-level government supervision would also send a strong message to investors and international markets that Syria is serious about building a stable, competitive, transparent economy that attracts investment.

Ultimately, the fiscal and tax policy expert believes the success of this team should not be measured by the number of announced reforms, but by its ability to:

• Attract domestic and foreign investment.
• Create jobs.
• Strengthen private sector growth.
• Improve the competitiveness of the Syrian economy and accelerate its integration into the global economy.

A Strategic Opportunity for Integration

By showing interest in a structured path of cooperation with the OECD, Homsi said Syria would send a clear message to investors, financial institutions, and international partners that it has a long term reform vision aimed at promoting economic growth and integration.

History may record this invitation not only as a diplomatic milestone, but as the moment Syria decided to turn political openness into a real economic opportunity, political momentum into tangible economic progress, and move toward a new phase of institutional reform and investment environment improvement.

The G7 Summit

The Group of Seven summit is an annual meeting that includes seven of the world’s largest advanced economies and serves as a high level political and economic coordination platform among these countries. It consists of the United States, Canada, the United Kingdom, France, Germany, Italy, and Japan, in addition to the European Union’s unofficial participation in the meetings.

The group aims to hold dialogue with countries and international financial institutions and discuss major global issues such as the world economy, trade, international security, climate change, energy, and technology.

The group emerged in the mid 1970s in response to global economic crises, especially the oil crisis, to serve as an informal framework for consultation among major economic powers. Unlike formal international organizations, the G7 is not an organization based on a treaty or binding charter, but a dialogue forum that relies on consensus among its members.