Trade Minister Ömer Bolat on Monday introduced that Syria has determined to scale back tariffs on almost 270 merchandise it imports from Türkiye, simply days after the 2 nations agreed to reassess customs duties.
“As of this week, Syria has decided to reduce customs duties on 269 products that are prominent in our exports to this country, including food such as chicken eggs, flour, corn, milk and cream, some iron and steel, and hygiene products,” Bolat instructed an occasion in Ankara.
His remarks got here after the Trade Ministry on Friday stated the 2 nations had agreed to reevaluate duties on sure merchandise and held discussions on financial and commerce relations throughout conferences in Damascus.
Earlier this month, experiences steered Syria had elevated duties by 300% to 500%, together with on imports from Türkiye, which left kilometers-long truck strains piling up close to border crossings between the 2 nations.
However, the Trade Ministry has stated that the newly carried out tariff system, efficient as of Jan. 11, was not unique to Turkish items however utilized equally throughout all borders and customs administrations.
“There is absolutely no situation that is being presented as a decision taken against Türkiye; it is baseless,” Bolat stated.
At conferences in Damascus, officers additionally agreed to start out negotiations to re-enact the free commerce settlement (FTA) suspended in 2011, when the civil struggle started in Syria. The ministry stated the brand new method seeks to determine a broader financial partnership.
Türkiye has been the primary backer of the opposition forces that ousted longtime dictator Bashar Assad final month and has since pledged to assist Syria’s reconstruction and financial revival.
Following Assad’s fall, officers expressed optimism that the commerce quantity between Türkiye and Syria may attain $10 billion within the close to future.
The quantity stood at $2.3 billion in 2010, in line with the Turkish Statistical Institute (TurkStat), earlier than the civil struggle broke out. Syria’s financial construction quickly collapsed as of 2011 as a result of struggle, which severely impacted items trade with Türkiye.
In 2012, the commerce quantity plummeted to $565 million. It elevated through the years however by no means achieved pre-2011 ranges. According to the TurkStat knowledge, Türkiye exported items value round $2 billion to Syria in 2024, led by gross sales of wheat, iron and metal merchandise and cement.
Bolat stated on Friday he held a video convention assembly with Syrian Economy and Foreign Trade Minister Basil Abdul Hannan earlier this month and expects reciprocal visits to happen as soon as the establishments in Syria settle in.
Source: www.dailysabah.com