The agreement follows on from a memorandum of understanding signed between the two sides in May.

The deal with DP World, a subsidiary of UAE investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria’s Mediterranean coast and cooperation in setting up industrial and free trade zones.

The signing ceremony was attended by Syrian President Ahmed al-Sharaa.

Last month, US President Donald Trump signed an executive order terminating a US sanctions programme on Syria, paving the way for an end to the country’s isolation from the international financial system and for the rebuilding of its economy shattered by the civil war.

The removal of US sanctions will also clear the way for greater engagement by humanitarian organisations working in Syria, easing foreign investment and trade as the country rebuilds.