Turkey Targets $10 Billion in Trade with Syria as Economic Ties Deepen

‍An Ambitious Trade Target and a New Economic Era

Ibrahim Fuat Ozcorekci, head of the Turkey-Syria Business Council under the Turkish Foreign Economic Relations Board (DEİK), announced the intensification of joint efforts to raise the volume of bilateral trade to $10 billion in the short to medium term. Speaking to the Anadolu Agency, he emphasized that the current phase marks the beginning of a new economic era, one in which civil society organizations and the business community are playing an active and influential role.

An Upward Trajectory for Bilateral Trade

Data indicates a notable growth in bilateral trade, which reached approximately $2.5 billion in 2024, compared to previous levels that ranged between $250 and $300 million. Major imports into the Syrian market are concentrated in iron and steel, plastics, construction materials, and food products. Conversely, key Syrian exports include cotton, olive oil, and sunflower oil.Statistics also show a 54% surge in trade flows during the first seven months of 2025, with December 2024 recording the highest monthly trade volume in a decade at $233.7 million.

The Role of Companies in Construction and Infrastructure Projects

Ozcorekci highlighted the central role that companies are preparing to play in construction projects, leveraging geographical proximity alongside robust industrial and logistical capabilities. In a related context, DEİK is developing tailored programs to empower Syrian expatriate entrepreneurs, aiming to increase their contribution to trade flows directed at the Syrian market.On an institutional level, August 2025 witnessed the signing of the Joint Economic and Trade Committee (JETCO) agreement, with ongoing negotiations to reach a Comprehensive Economic Partnership Agreement (CEPA).

Structural Shifts in the Trade Landscape

The trade landscape in Syria is experiencing fundamental shifts in supply chains and import sources. As market dynamics reshape to fill supply gaps, products imported from neighboring countries are gaining a clear competitive edge. Economic reports indicate that the prices of these goods are 30% to 40% lower than some locally produced alternatives, granting them an increasing market share.

Infrastructure and Energy at the Forefront of Investment Interests

Regional efforts are increasingly directed toward building strategic partnerships focused on the infrastructure, energy, and electricity sectors. The Turkish Ministry of Energy, represented by Minister Alp Arslan Bayraktar, has expressed its readiness to identify the Syrian market's needs in these sectors and work toward fulfilling them.Reflecting the sheer scale of these investment prospects, various regional stakeholders have committed up to $14 billion to develop Syrian infrastructure, with the highest priority given to energy projects and transportation networks.

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