Türkiye, Syria set ambitious $10B trade target

Türkiye and Syria are working toward achieving a bilateral trade volume of $10 billion in the short to medium term, according to Ibrahim Fuat Ozcorekci, head of the Foreign Economic Relations Board (DEIK) Türkiye-Syria Business Council.

The two nations are entering a new phase in economic cooperation, with contributions from civil society organizations playing a pivotal role.

Rapid growth in Türkiye-Syria trade relations

Speaking in Izmir, Ozcorekci highlighted the post-2018 integration process following Türkiye’s Olive Branch and Euphrates Shield operations. He noted a substantial increase in trade between the two countries, with the volume rising from $250 million-300 million in 2011 to $2.5 billion by 2024.

“Türkiye has become a natural partner in the region due to its strategic moves,” said Ozcorekci.

“The linguistic advantage of Turkish being widely spoken in the region has also facilitated trade. Sincere ties between the Syrian people and Türkiye, owing to the hospitality extended during challenging times, have further bolstered economic relations.”

Key sectors and export opportunities

Türkiye’s primary exports to Syria include iron and steel, plastics, household goods, construction materials and food products. In return, Türkiye imports agricultural goods from Syria, such as cotton, olive oil and sunflower oil.

Ozcorekci emphasized the importance of developing commercial institutions in Syria to ensure smoother trade flows.

He added that the DEIK Türkiye-Syria Business Council is actively supporting initiatives to enhance collaboration and maximize the contributions of Syrian entrepreneurs in Türkiye.

Türkiye’s role in Syria’s reconstruction

Ozcorekci stressed Türkiye’s logistical advantages and industrial capacity in playing a significant role in Syria’s reconstruction. Proximity to Syrian cities from Turkish hubs such as Kilis, Gaziantep, Hatay, and Mardin offers a logistical edge.

“Türkiye’s industrial capacity positions it as the closest and most capable source to meet Syria’s reconstruction needs. Both countries value this commercial partnership and are making strategic efforts to strengthen it,” he said.

Diplomatic developments bolster confidence

The reopening of Türkiye’s embassy in Damascus and the anticipated reopening of the consulate in Aleppo were described by Ozcorekci as critical milestones.