Donald Trump says he will lift all American sanctions on Syria.
The US president said he was convinced of the idea after discussions with Saudi Crown Prince Mohammed Bin Salman and Turkish President Recep Tayyip Erdogan.
Syria has been subject to intense economic sanctions imposed during the former dictatorship of Bashar al-Assad, and there have been growing calls to lift the restrictions to help the country recover from decades of brutal dictatorship and civil war.
"It's their time to shine, we're taking them all off," Mr Trump said.
"Good luck Syria, show us something very special."
Speaking to Syrian state news agency SANA, Syrian Foreign Minister Asaad Shibani welcomed the US president's announcement, describing it as a "pivotal turning point for the Syrian people as we move towards a future of stability, self-sufficiency and genuine reconstruction after years of destructive war".
The White House earlier confirmed Mr Trump would "say hello" to new Syrian leader Ahmed al-Sharaa in Saudi Arabia on Wednesday, local time.
It is expected to be the first meeting between the US president and the former militant who led the efforts to overthrow the Assad regime.
He is set to become the first Syrian leader to meet an American president since the late Hafez Assad met Bill Clinton in Geneva in 2000.
'We want to reclaim the country'
Hamza Hafez, an engineer in Damascus, told the ABC he hoped people could go back to work and the Syrian pound would have the chance to strengthen against the US dollar.
"Under the weight of these sanctions, investment and development were impossible and hope was scarce," he said.
"We constantly struggled with a lack of equipment, maintenance resources and funding. We want to reclaim the country."
Independent journalist Mohamad Abu El Hoda Homsi told the ABC the entire region was a "powerful wave of hope and celebration" amid the possibility other countries could invest in projects in Syria.
"The sanctions had been deeply affecting the Syrian people, rather than the former regime," he said.
"Now, with those restrictions lifted, Syria is beginning to reclaim its rightful place on the international stage; once again engaging with the world like any other sovereign nation."
Sanaa Farhan Qussur, a civil society volunteer, said the lifting of sanctions marked a "turning point" and a "new chapter".
Who is Ahmed al-Sharaa?
Mr al-Sharaa was named president of Syria in January, a month after a stunning offensive by insurgent groups led by al-Sharaa's Hayat Tahrir al-Sham (HTS) that stormed Damascus, ending the 54-year rule of the Assad family.
The US has been considering how to handle Syria with Mr al-Sharaa as president, with Gulf leaders rallying behind the new government in Damascus.
Regional leaders have argued that US support will act as a block against Iran returning to influence Syria, where it helped prop up the Assad regime.
Mr Trump's move marks a change in tone from the US president and puts him at odds with ally Israel, which has been deeply sceptical of Mr al-Sharaa's extremist past.
Formerly known by the nom de guerre Abu Mohammed al-Golani, Mr al-Sharaa joined the ranks of Al Qaeda insurgents battling American forces in Iraq after the US-led invasion in 2003 and still faces a warrant for his arrest on terrorism charges in Iraq.
The US once offered $US10 million ($15.4 million) for information on his whereabouts due to his links to Al Qaeda.
He was the leader of Al Qaeda's official wing in the Syrian conflict before he severed ties with the global jihadist network in 2016.
HTS was formally dissolved in January but is listed as a terror organisation by the US and the United Nations.
ABC/wires
