TURKISH EXPORTS TO SYRIA UP NINE FOLDS
ANKARA - Turkish exports to Syria increased nine folds in the past ten years.
Turkish annual exports to Syria, which was 184.2 million USD in 2000, reached 1.6 billion USD as of November, 2010.
When Turkey and Syria signed free trade agreement in 2004, customs tax on some products was lifted, while it was reduced in some other products. Also agreements on prevention of double taxation as well as protection and encouragement of investments mutually increased the trade between the two countries.
The two countries signed 50 cooperation agreements on civil aviation, tourism, health and mass housing which shaped the legal infrastructure of commercial relations. Also lifting visa between the two countries made export to Syria more attractive.
Annual trade volume between Turkey and Syria, which was 730 million USD ten years ago, exceeded 2 billion USD as of the end of 2009. Imports from Syria, which was 545.2 million USD in 2000, dropped to 327.6 million USD in 2009.
The two countries targeted to exceed 5 billion USD in bilateral trade volume by the end of 2012.
