Rhino: Agencies – Economist and energy expert Amer Shobaki said that the fall of Bashar al-Assad’s regime in Syria represents a watershed moment that will redraw the economic landscape in Syria and neighboring countries, with repercussions that extend to Jordan, Iraq, Turkey, Lebanon, Israel and the Arab Gulf states.
Shobaki explained that the most important challenges are focused on reaching stability, the rule of law and discipline, limiting chaos, establishing order and passing the transition period peacefully to reach democracy, with a great bet on the ability of the Syrian people to pass through this critical historical juncture.
He added that the first phase after stabilization will focus on the reconstruction of Syria and will require huge investments estimated at hundreds of billions of dollars, providing a great opportunity for countries, companies and the return of refugees to participate in building the new Syria. This process will open the doors for investments in vital sectors such as infrastructure, energy and agriculture, which will contribute to the revitalization and stabilization of the Syrian economy.
Shobaki said that direct economic repercussions will be felt by neighboring countries, most notably Jordan, in enhancing trade with Syria through the reopening of the border, reviving the agreement to pass electricity and gas from Jordan to Syria and Lebanon, which are thirsty for energy, and providing opportunities for Jordanian construction and service companies to participate in reconstruction projects. He also noted that the return of Syrian refugees could ease the pressure on the Jordanian economy.
