Türkiye and Syria eye lifting their bilateral trade volume to $5 billion (TL 222.99 billion) and then to the target of $10 billion, a top official said on Tuesday amid comprehensive talks between officials from the two nations in Istanbul.
"We have discussed all kinds of solutions and mechanisms, including a free trade agreement, to firstly increase our bilateral trade, which reached $3.7 billion last year, to $5 billion and then to the target of $10 billion," Trade Minister Ömer Bolat said during the bilateral talks and first meeting of the Türkiye-Syria Joint Economic and Trade Committee (JETCO).
The meeting was also attended by his counterpart, Syrian Minister of Economy and Industry Nidal al-Shaar.
As part of the first JETCO meeting, the two sides also signed a protocol, which Bolat said was "not only a technical document" but constituted "a comprehensive road map for economic integration, regional development and the reconstruction process between two neighboring and brotherly countries."
Ankara and Damascus have enjoyed a positive momentum in ties since the ouster of Syria's long-time ruler, Bashar Assad, in December 2024.
After the bilateral meeting, the first meeting of the Türkiye-Syria Joint Economic and Trade Committee was held with the participation of Bolat and al-Shaar, as well as delegations and business representatives from both countries.
Bolat noted that a historic turning point in economic and trade relations between Türkiye and Syria was witnessed in Istanbul and stated that they have successfully completed the first session of JETCO, which they signed in Ankara on Aug. 5 last year, on the basis of great success and mutual trust.
"While deciding to deepen our cooperation in strategic sectors such as textiles, agriculture, food and machinery, we also agreed to share information on regulatory frameworks to ensure predictability in agricultural trade," he said.
"Additionally, we are very pleased that the Türkiye-Syria Business and Investment Forum to be held on the sidelines of this meeting will bring together leading companies and investors from both countries," he added, referring to the forum that was set to take place later in the day.
Moreover, Bolat touched upon "the recent hardships and hot wars experienced in the region and in the world," and noted that they attach great importance to carrying out foreign trade, which plays a central role in Türkiye's growth and development, without interruption and through multiple alternatives.
The minister also noted that one of the key issues in their meetings with his Syrian counterpart was customs gates.
"The full-capacity operation of our customs gates, the uninterrupted operation of logistics lines, is of vital importance for the stability of the regional supply chain," he suggested.
Additionally, he said that it was of "great importance" that transit corridors between Türkiye, Syria, Jordan, Saudi Arabia and Iraq operate quickly and efficiently to meet the supply needs of the Middle East and Gulf countries seamlessly amid the current war conditions in the Gulf region.
"As the governments of both sides, we attach great importance to the effective and rapid operation of transportation corridors and transit trade corridors both from Türkiye to Syria and then to Jordan and Saudi Arabia, as well as from Türkiye to Syria, Iraq, and Saudi Arabia," he said.
At the same time, he said, "We will work closely together on making customs crossings fully operational, reducing the need for transshipment, and developing mechanisms for direct delivery."
The minister also underscored the importance of Syria's unity and integrity, adding that accelerating its economic recovery and advancing the reconstruction process are among the top agenda items for the Turkish business world.
Al-Shaar, for his part, also stated that they have started to work with Türkiye on a solid and positive basis, and that cooperation continues in economic, cultural and social areas.
Al-Shaar expressed that they have started a new era of cooperation that will be in the interests of both countries. "We are truly establishing this cooperation on very strong foundations. We are determined to use all economic possibilities in the best way possible for both countries."
