Turkey and Syria Target $10 Billion in Bilateral Trade

Trade Figures and Growth Targets

Turkish Trade Minister Omar Bolat announced that bilateral trade between Turkey and Syria reached approximately $3.75 billion last year, representing an increase of more than 40 percent compared to the previous period. Bolat confirmed that both governments are actively working to raise this figure to $10 billion in the coming period.

Meeting Context and Participants

The minister made these remarks during a meeting held in Ankara under the title "Free Trade and Industrial Zones in Syria and the Investment Environment." The gathering was attended by Qutayba Ahmad Badawi, head of Syria's General Authority for Land and Sea Ports, and Rifat Hisarciklioglu, president of the Union of Chambers and Commodity Exchanges of Turkey, according to the Anadolu Agency.

Border Crossing Development

Bolat noted that trade flows and passenger movement across shared border crossings are proceeding without interruption. He confirmed that work is advancing rapidly to open the Nusaybin-Qamishli crossing, located at the far eastern end of the shared border, before the end of the current year. The crossing is set to accommodate trade, passenger movement, and transit traffic.

He added that both countries are committed to upgrading, expanding, and modernizing land customs crossings, alongside developing maritime transport lines to further stimulate bilateral trade.

Resumption of Gulf Transit Routes

The minister highlighted that the launch of transit movement between Turkey and Syria since 15 April of this year has helped revive trade with several countries, including:

• Lebanon, Jordan, and Iraq
• Saudi Arabia, Kuwait, and Qatar
• the United Arab Emirates, Oman, and Bahrain

He noted that transit movement through Saudi Arabia, Syria, and Jordan, which had been suspended for approximately 14 years, resumed on a regular basis from that date.

Transport Corridors and Energy Lines

Bolat emphasized the importance of expanding land transport corridors and establishing new ones, alongside building pipelines for oil and natural gas extending from Turkey through Syria to Jordan, Iraq, and the Gulf states. He noted that the strategic value of these corridors has grown given the disruptions the region has experienced as a result of conflict and the closure of the Strait of Hormuz.