Syria’s credit card comeback, Damascus International Fair mark return to global economy

More than 60 countries attended the fair, including key regional allies Saudi Arabia and Iraq, while Syrian President Ahmed al-Sharaa confirmed that credit cards are available again.

“The 63rd Damascus International Fair opened its doors to the general public on Saturday for its fourth day at the Damascus Fairgrounds, following the conclusion of three days dedicated exclusively to business and investment programs,” Syria’s state media SANA reported, as Syria continues to progress, seeking to integrate back into the international community and improve its economy.

The fair is important, with Syrian sources saying that more than 60 countries are attending or represented in some way. “The initial three days of the 63rd Damascus International Fair, dedicated exclusively to business representatives, investors, and official delegations, concluded with the signing of multiple agreements and memoranda of understanding spanning trade, industrial, and investment sectors,” SANA added.

The report said that the Federation of Syrian Chambers of Commerce signed a memorandum of understanding with the Federation of Iraqi Chambers of Commerce to boost trade, stimulate commercial exchange, and encourage joint investments between Syrian and Iraqi business communities.

“Economic expert Muhammad Koussa noted that the agreement helps transition bilateral economic relations toward project-based partnerships and expanded market access,” the SANA report added.

In addition, the Syrian Economy and Industry Ministry signed a memorandum of understanding with Saudi Arabia’s Ethraa Holding Company to rehabilitate, modernize, and operate the General Company for Iron and Steel Products in Hama. It also signed a deal with Turkish firm iSRA to expand an industrial zone.

SANA added that the fair is running under the theme “Syria Shines Again. SANA added that “the fair features nearly 1,000 participating entities representing approximately 60 countries, and will continue welcoming public visitors through September 4.”

Syria can now process credit card payments again

Meanwhile, Syria can now process credit card payments again, now that sanctions have ended. This small, daily detail matters and symbolizes Syria's re-entry into the international system after years of isolation.

A new Syrian government social media account, Syria Response, posted a video of Syria’s President Ahmed al-Sharaa using his card at a restaurant. "Will that be cash or credit, Mr. President?” Sharaa was asked in the video.

The report notes that “President Ahmed al-Sharaa pays with a Visa card in the heart of Old Damascus, joined by Central Bank Governor Mohammed Safwat Raslan. For more than fifteen years, this simple transaction was impossible.”