CMA-CGM at the Port of Latakia: Toward Syria’s Rebirth

by Sebastien GOULARD

In early May 2025, the French shipping company CMA-CGM signed an agreement with the Syrian government to operate the port of Latakia.

The Syria–CMA CGM Agreement

According to initial reports, CMA-CGM has been granted the management of Syria’s main port for a period of 30 years, in exchange for an investment of €230 million aimed at modernizing the port infrastructure and bringing it up to international standards. The revenues generated from port operations are to be shared between the Syrian state (60%) and CMA-CGM (40%).

This new agreement signals a normalization of the situation in Syria. The Damascus regime has undergone a transformation following the fall of Bashar al-Assad on December 8, 2024. Since late January 2025, the country has been led by interim President Ahmed Hussein al-Charaa, who is committed to reintegrating Syria into the international community.

A Lifting of Sanctions Against Damascus?

Following the fall of the former regime, the European Union lifted certain sanctions against Damascus to encourage the resumption of trade, particularly in the energy, transport, and finance sectors. However, due to ongoing intercommunal tensions that have plagued Syria since early 2025, the EU has refrained from lifting all sanctions and remains cautious about the country’s evolving situation.

Last March, Brussels hosted the ninth donor conference for the reconstruction of Syria. The international community pledged to mobilize €5.8 billion for Syria, with the European Union expected to contribute €2.5 billion over the next two years. The needs are immense in a country that has known only war for the past fourteen years. All infrastructure must be rebuilt. For the European Union, restoring stability and reconciliation in Syria is a priority to prevent the resurgence of an Islamic State and uncontrolled migration flows toward its borders.

Nevertheless, the situation in Syria remains fragile. The new government must still demonstrate that it governs in the interest of all Syrians and protects all minorities, including the Druze, Alawites, and Christians. The EU has insisted, in particular, that the massacres committed against the Alawite minority in early March must not go unpunished. Failure to act may result in renewed sanctions. The Syrian government must therefore denounce Islamist fundamentalists who threaten peace in the country. It must also contend with the advance of Israeli forces in the southwest, who aim to establish a buffer zone in the region.

In the north, the new Syrian government must address the issue of rebel-held territories backed by Turkey.

In this challenging context, the development of new port operations in Latakia is a necessity for Damascus.

The Port of Latakia

During the civil war (2011–2024), the port of Latakia, subject to international sanctions and attacks by the Israeli Defense Forces, saw a sharp decline in activity. Bashar al-Assad’s main allies, Iran and Russia, established a presence in the port. For Tehran, the goal was to gain access to the Mediterranean, with hopes of establishing a long-term foothold in Latakia. Meanwhile, Russia opened a naval base at Tartus, less than 100 kilometers south of Latakia, and used the Khmeimim airport near Latakia. However, following the fall of Assad’s regime, the Russian presence has been called into question by the transitional government, which in January 2025 annulled the agreement granting a Russian company management of the Tartus port.

Latakia is now expected to play a key role in the country’s reconstruction.

CMA-CGM in Syria

CMA-CGM is not a new player in Syria. The agreement signed with the new authorities merely reaffirms the group’s long-standing presence in Latakia. Since 2009, Terminal Link—a joint venture between CMA-CGM (51%) and China Merchants (49%)—has managed the container terminal in Latakia, with the contract regularly renewed. One of the major changes in the new agreement is its duration: CMA-CGM is now committed to operating in the port for 30 years, giving it time to modernize infrastructure and transform Latakia into a major regional hub.

CMA-CGM is owned by the Saadé family, originally from Lebanon, which maintains strong ties to the Levant. However, the decision to invest in Latakia is not merely sentimental. CMA-CGM already has a solid presence in Lebanon’s key ports, Beirut and Tripoli. Syria is expected to enter a reconstruction phase and will need to increase imports to meet its renewed needs. The cost of reconstruction could reach up to $400 billion. Latakia is likely to be the main gateway for this economic recovery.

The country’s economy was severely impacted by the civil war, and much of its infrastructure must be rebuilt. The new government of Ahmed Hussein al-Charaa aims to encourage the return of Syrians who fled the war and to attract their investments in the domestic economy. Today, Syria’s exports remain limited, consisting mainly of agricultural products (such as olive oil, apples, and spices), cotton, and fertilizers. After reconstruction, Syria could resume gas and oil exports.

For CMA-CGM, the new agreement is a bet on the future. The stabilization of Syria is expected to attract investors not only from Europe, but also from the Gulf and China. As a result, the port of Latakia should see significant growth in its maritime traffic.