10 Billion Dollar Target in Trade Volume Between Turkey and Syria
Speaking at a program in Damascus, TIM President Gültepe announced that the target is to develop commercial relations between the two countries and reach 10 billion dollars.
Turkish Exporters Assembly President Gültepe stated in an address at an event in Damascus that they aim to increase the trade volume between Turkey and Syria to 10 billion dollars, while sharing current economic data and new areas of cooperation.
Last Year's Trade Data
It was announced that the total trade volume between the two countries reached 3.7 billion dollars last year. It was reported that approximately 5,800 Turkish companies realized 3.5 billion dollars in exports to Syria.
Intra-Year Increase in Exports
It was stated that Turkey's exports to Syria increased by 16.5 percent in the first seven months of this year, reaching 2.1 billion dollars.
Trade Bridge Opening to the Gulf
It was emphasized that Syria is an extremely important trade bridge connecting Turkey to the Gulf region, and attention was drawn to the strategic importance of the region.
Reconstruction Process and Imports
While it was noted that Syria's reconstruction process has created demand in many sectors, it was also recorded that Turkey's imports of textile raw materials, olive oil, and agricultural products from this country have increased.
Joint Industrial Zones and Banking
It was announced that the establishment of joint industrial zones in the border region is on the agenda. In addition, it was stated that an agreement has been reached regarding Turkish banks opening branches in Syria.
Free Trade Agreement and Targets
It was stated that the target can be reached by accelerating customs procedures, facilitating transit passes, and increasing the capacities of border gates. The importance of updating the Free Trade Agreement, which was suspended in 2011, was emphasized.