KOCAELİ
Trade Minister Ömer Bolat has stated that one of his ministry’s priorities now is to increase trade with war-torn Syria.
“We are advancing our preparations for trade with Syria at full speed,” Bolat said at an event in the northwestern province of Kocaeli.
He noted that exports were already allowed with Syria except for some products.
“In the new period, hopefully, we will work together as a team as Turkish industrialists, manufacturers, exporters and investors to help the new administration in Syria get the country back on its feet,” Bolat said, adding that Türkiye’s customs procedures are being prepared accordingly.
The Syria desk at the Trade Ministry is working 24/7 to that end, he added.
Türkiye imported $363.5 million worth of Syrian goods and exported $2 billion in products to the country last year.
In the first 10 months of 2024, the trade volume between Türkiye and Syria was $2.12 billion, according to data from the Turkish Statistical Institute (TÜİK).
Türkiye’s exports to and imports from Syria amounted to $1.77 billion and $345 million, respectively, in January-October.
The collapsed regime of Bashar al-Assad left Syria’s economy in ruins.
Syria ranked 176th in the world last year with its exports reaching $650 million and 163rd in the world with imports totaling $3.4 billion.
Syria’s GDP is estimated to have halved in 2010-2020 and the country’s dependence on imported goods soared, including staple food products, and its local industrial and agricultural production collapsed.
Syria’s national income is estimated to have been $37.1 billion in 2022, $39.5 billion in 2023, and $29.3 billion in 2024 — a stark difference from $60 billion in 2010, before the civil war.
