Saudi Arabia, Syria sign military, financial pacts in Riyadh as ties between countries deepen

Jerusalem Post/Middle EastAlthough details of the military agreement have not been made public, Reuters previously reported that Syria was considering assisting in the war against the Iran-backed Houthis.Follow us on GoogleSyrian President Ahmed al-Sharaa ​meets Saudi Crown Prince Mohammed bin Salman, in Riyadh, Saudi Arabia, November 4, 2026.(photo credit: Saudi NewsAgency/Handout via REUTERS)NOVEMBER 5, 2026 14:17The Saudi and Syrian defense ministries signed a military cooperation agreement on Wednesday during Syrian President Ahmed al-Sharaa's visit to Riyadh, where he met with Saudi Crown Prince Mohammed bin Salman for the second time in a month, as relations between the two countries continue to deepen.Although details of the military agreement have not been made public, Reuters previously reported that Syria was considering assisting in the war against the Iran-backed Houthis.Syrian Foreign Minister Asaad al-Shaibani has also confirmed in recent weeks that Damascus is considering joining the Mecca Pact, an agreement currently involving the Sunni countries of Turkey, Saudi Arabia, and Pakistan, with Egypt also expressing interest in joining.Separately, the Saudi Fund for Development signed six agreements with Syria's Finance Ministry on Wednesday to provide more than $403 million in concessional development loans, according to the Syrian Foreign Ministry.The funding reportedly includes $100 million to rebuild and equip damaged healthcare facilities, $90 million to rehabilitate Aleppo's thermal power plant, $60 million to repair housing, and a further $105 million to strengthen civil defense.Saudi Development Fund CEO Sultan Al Marshad and Syrian Minister of Finance Mohammed Yisr Barnieh during the signing of financial agreements in Riyadh, Saudi Arabia, November 4, 2026. (credit: Saudi NewsAgency/Handout via REUTERS)New int'l airport, airline expected under multibillion-dollar investment dealsSaudi Arabia has already signed major investment agreements with Syria covering energy, telecommunications, aviation, and real estate. In February, the two countries announced multibillion-dollar investment deals involving a major telecommunications project, a low-cost joint airline, and an international airport in northern Syria.Saudi Investment Minister Khalid al-Falih said at the time that the Saudi investment fund had committed 7.5 billion Saudi riyals (nearly $2 billion) to develop two airports in Aleppo over several phases.Syria's Communications and Information Technology Minister Abdulsalam Haykal said the telecommunications investment, worth nearly $1 billion, would be implemented in two stages over 18 months to two years.Saudi budget carrier flynas and the Syrian Civil Aviation Authority also signed an agreement to establish a new airline, flynas Syria. The joint venture will be 51% owned by the Syrian side and 49% by flynas.Follow us on Google