Joint production, investment and cooperation in third markets are emerging as key goals in economic relations between Türkiye and Syria. Minister Bolat said they want companies from the two countries to move beyond simple buying and selling and engage in joint production and investment.
Bolat will travel to Syria tomorrow with a delegation of Turkish businesspeople. The program, coordinated by the ministry and organized by the Turkish Exporters Assembly, will bring Turkish and Syrian businesspeople together for a roundtable meeting. Bilateral business meetings between companies will also be held in Damascus.
Bolat will attend the opening of the 63rd Damascus International Fair and visit the stands at the exhibition venue. Türkiye will participate in the fair with a 120-square-meter stand. Alongside local product showcases and tasting events, the stand will host folk dances and various cultural activities.
Türkiye-Syria trade reaches $3.7 billion
Bolat described the lasting and sustainable development of commercial relations between Türkiye and Syria on the basis of mutual benefit as a priority. He said trade between the two countries reached approximately $3.7 billion last year.
Trade volume reached $2.2 billion in the January-July period of this year, an increase of more than 16 percent compared with the same period last year. Bolat said this momentum was important for the future of economic and commercial relations and announced that they aim to increase trade volume to $10 billion in the coming period.
Bolat said the fair would contribute to strengthening communication, trust and cooperation between Türkiye and Syria. He said they attach importance to establishing a comprehensive framework for relations in which trade, investment, institutional contacts and interaction between the two societies support one another.
Production and investment opportunities to be examined in Aleppo
As part of the Aleppo leg of the program, the Sheikh Najjar Industrial Zone will be visited. Bolat said production and investment opportunities would be examined on site during meetings with representatives of the city's business community, and concrete areas of cooperation would also be assessed.
Bolat said there were opportunities for cooperation in the Syrian market in infrastructure and superstructure, construction, energy, logistics, food, textiles, machinery, chemicals, health services and technology. He said the revival of economic activity in Syria and the development of its production capacity would create new trade and investment opportunities.
Joint investments and expansion into third markets targeted
Bolat said they want companies from the two countries to share technology and experience and act jointly in third markets. He said the fair offered potential for distributorship and supply agreements, joint investments, local production models and long-term commercial partnerships.
Bolat announced that they aim to turn the connections established at the fair into production projects, export agreements and new employment opportunities.
Bolat said the Damascus International Fair was one of Syria's longstanding international trade events, adding that more than 800 companies from 44 countries and over 2 million visitors attended the fair last year. He said Türkiye participated in last year's fair with 33 exhibitors.
