The with statement in Python provides a convenient way to manage resources such as files or network sockets that need to be opened and closed properly. The with statement is used to wrap the execution of a block of code with methods defined by a context manager, which is responsible for setting up and tearing down the environment in which the code will be executed.

The syntax of the with statement is as follows: 

with context_expression as target:
    # code to be executed within the context

Here, context_expression is an object that defines the context of the code block, and target is a variable to which the object is assigned. When the with statement is executed, the context manager's __enter__ method is called, which sets up the context, and the object is assigned to target. Then the code within the block is executed, and when it completes, the context manager's __exit__ method is called to tear down the context.

The with statement ensures that the context is properly set up and torn down, even in the face of exceptions or other errors. This makes it easier to write code that is both correct and robust. The with statement can be used with a wide variety of objects that implement the context manager protocol, including files, network sockets, and database connections.