Syria and Turkey have signed over ten agreements and protocols aimed at deepening bilateral cooperation, including the establishment of a joint economic committee and partnerships in infrastructure, customs, and reconstruction.
This took place during a visit by the Syrian Minister of Economy and Industry, Nidal al-Shaar, on Tuesday, August 5, to the Turkish capital, Ankara, where he met with the Turkish Minister of Trade, Ömer Bolat, and the President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Rifat Hisarcıklıoğlu, as part of the "Turkish-Syrian Round Table" meeting held at the TOBB headquarters in Ankara.
The Turkish Ministry of Trade quoted al-Shaar as saying that the relationship between Ankara and Damascus is longstanding and that the two countries cannot be separated due to their geographical location. He added, "We want the economy to embrace everyone through joint production with Turkey, integrated market operation, and mutual investment. We see Turkey as a strategic partner."
For his part, Turkish Minister of Trade Ömer Bolat stated that the existence of a strong and flexible Syrian administration and economy would contribute to the stability of the entire region. He added that this visit served as a significant signal toward a vision of a strong economic partnership.
Bolat pointed out that economic relations between Syria and Turkey are marked by a positive atmosphere in this new phase. The trade volume between the two countries reached $1.9 billion within the first seven months of this year, compared to $2.6 billion in 2024.
According to the Turkish Ministry of Trade, the goal of the agreements is to increase trade volume between the two countries to $5 billion in the short term.
Joint Economic Committee
The Turkish Minister of Trade and the Syrian Minister of Economy and Industry attended the signing ceremony of the protocol to establish the "Turkish-Syrian Joint Economic and Trade Committee" (JETCO), held at the Turkish Ministry of Trade. The committee's meetings will soon be held under the leadership of both countries' economy ministers and aim to manage and coordinate economic relations across all areas and develop joint roadmaps for future cooperation projects.
The committee represents a "comprehensive institutional framework" for developing economic relations in various sectors, from trade and industry to infrastructure and energy, according to the Turkish Ministry of Trade.
Agreements to Increase Trade Volume
During the visit, the two parties signed a memorandum of understanding in the field of administrative development, aimed at "strengthening institutional infrastructure in Syria and improving public service efficiency." It also included enhancing cooperation in infrastructure projects, rehabilitating roads, bridges, and railways, and opening the door for Turkish contracting companies to participate in reconstruction projects through public-private partnership models and "finance-build-operate" schemes, according to the Turkish Ministry of Trade.
In the area of customs, Turkish Minister Ömer Bolat announced the countries' intention to improve border crossings and develop cooperation mechanisms between customs administrations. He noted that Turkish trucks will no longer have to switch trailers at the border, which means faster logistics operations and reduced costs.
Bolat said, "In the coming period, Aleppo will become a strong logistics hub. Transportation corridors in Syria will be reactivated. We have entered a new phase in which transit capabilities to Gulf countries will resume -- a phase where our countries will reap mutual gains through cooperation."
The Turkish side proposed negotiating a "new-generation comprehensive economic partnership agreement" with Syria, instead of the previous free trade agreement, which was frozen after 2011.
Business Council and Energy Projects
During the meeting, the two parties announced the reestablishment of the "Turkish-Syrian Business Council" under the umbrella of the Foreign Economic Relations Board (DEİK), to serve as a permanent platform linking businesspeople from both sides and exchanging investment proposals.
Bolat addressed the joint energy project, recalling the activation of the "Kilis-Aleppo" natural gas pipeline, with a daily capacity of 6 million cubic meters, enough to meet the needs of about 5 million homes.
He noted that the next step will involve joint electricity plant projects, stressing that cooperation in the energy sector will become "a global model" through joint energy and power station projects to be implemented in the future.
The two sides agreed to launch cooperation in rebuilding Syria's industrial sector through studies to be conducted in advanced Turkish industrial zones such as the Gebze industrial zone and the MEXT Technology Center.
These studies will focus on industrial cluster models, university-factory cooperation, and the development of automation and logistics management technologies.
Partnership, Not Dominance
Dr. Ashraf Dawaba, Professor of Finance and Economics at İstanbul Sabahattin Zaim University and President of the European Academy for Islamic Finance and Economics (EIFE), told Enab Baladi that reaching $5 billion in trade exchange in the short term (approximately one year) would be difficult.
He added that achieving this is possible in the medium term -- about three to five years.
Dawaba, believes that the chances of success for the Turkish model in Syria's reconstruction process could be realized through public-private partnerships and the activation of the BOT (Build-Operate-Transfer) system. He considered the current circumstances in Syria suitable for such models, which would help alleviate the burden on the state budget.
The finance and economics professor believes that Syria and Turkey are on their way to a type of economic integration that will benefit both sides. It cannot be considered Turkish economic dominance over Syria's economy, but rather an economic partnership based on the standard of mutual and balanced interests, which is the foundation of the relationship.
What Is the Free Trade Agreement?
Syria and Turkey froze the Free Trade Agreement at the end of 2011 following rising tensions between the two countries in the wake of the Syrian revolution.
The agreement was signed in 2004 and entered into force in 2007. It led to a yearly 30% increase in trade volume, reaching $2.272 billion in 2010, compared to $1.7 billion in 2009.
Syrian exports to Turkey grew by 100%, particularly after the cancellation of visa requirements between the two countries, which facilitated the movement of individuals and goods.
At the time, the agreement aimed to boost trade and eliminate customs barriers between the two countries.