Syria signs 30-year deal with CMA CGM for Latakia port

Syria has signed a 30-year agreement with French shipping giant CMA CGM to develop and operate the port of Latakia, the country's main maritime gateway. The deal includes a €230 million investment aimed at modernizing the port and constructing a new, deeper berth to meet global standards. The agreement follows the ousting of former Syrian leader Bashar al-Assad in December and represents a revision of previous contracts with updated terms and investment commitments. CMA CGM, managed by the Franco-Lebanese Saadé family with Syrian roots, has overseen Latakia's container terminal since 2009. The partnership is expected to increase port activity, strengthen regional supply chains, and address outstanding obligations between Syria and CMA CGM. Syrian authorities reportedly negotiated for a larger share of revenues and a shorter lease term compared to earlier agreements.