Azernews.Az

By News Centre

The first term meeting of the Turkiye-Syria Economic and Trade Joint Committee (JETCO), along with the Business and Investment Forum, which marks a significant milestone in economic and commercial relations between Turkiye and Syria, was held yesterday in Istanbul. The day’s first session featured a bilateral meeting between Turkish Trade Minister Ömer Bolat and Syrian Minister of Economy and Industry Nidal Shaar. During the meeting, the current state of trade and economic relations between the two countries, as well as potential avenues for cooperation, were discussed in detail.

Under the framework of the JETCO 1st Meeting Protocol, cooperation agreements were signed between the two countries in the fields of “product safety and inspection,” “technical regulations,” “standardization,” “conformity,” and “metrology.”

Subsequently, a Round Table Meeting was held with representatives of private sector umbrella organizations to evaluate trade and investment opportunities between the two countries. The meeting, attended by delegations and business representatives from both nations, outlined the steps necessary to raise bilateral trade to the target of $10 billion. By bringing the practical experience of the business community and sectoral expectations directly to the table, the meeting concretely mapped out the roadmap for projects to be implemented, particularly in construction, industry, and logistics.

Trade Minister Ömer Bolat noted that they witnessed a historic turning point in economic and trade relations between Turkiye and Syria. He emphasized that the signed protocol is not merely a technical document but a comprehensive roadmap for economic integration between two neighboring and fraternal countries, regional development, and the reconstruction process.

Bolat explained that they discussed all possible solutions and mechanisms to raise bilateral trade, which reached $3.7 billion last year, first to $5 billion and ultimately to the $10 billion target. He stated: “While deciding to deepen our cooperation in strategic sectors such as textiles, agriculture, food, and machinery, we also agreed to exchange information on regulatory frameworks to ensure predictability in agricultural trade.”

Recalling the agreement to establish a Joint Customs Committee between the Turkish Ministry of Trade and the Syrian Ministry of Border and Customs, Bolat stated that Turkiye completed the approval process on its side on March 27. He added: “We will work in close cooperation to make customs crossings fully operational, reduce the need for transshipment, and develop direct delivery mechanisms.” Bolat also noted that there was an agreement to actively utilize Turkish contracting firms’ global experience and technical capacity in Syria’s housing, infrastructure, energy, and transportation projects as part of Syria’s reconstruction process.

Bolat added: “Finally, we are ready to expand our cooperation into broad areas such as energy—particularly in oil and natural gas extraction—mining, education through efforts to establish the Turkiye-Syria Friendship University, and healthcare collaboration. We will develop joint projects for the reconstruction and integration of Syria’s electricity networks, investments in renewable energy, and exploration of critical minerals such as phosphates, essential for fertilizer production. We sincerely support efforts to reintegrate Syria into the global financial system and to strengthen payment infrastructure.”

Syrian Minister of Economy and Industry Nidal Shaar stated that they have begun working with Turkiye on a strong and solid foundation, continuing cooperation in economic, cultural, service, and social fields. Shaar said: “We are now solidifying this cooperation on truly strong foundations. We are determined to use all economic opportunities in the best possible way for both countries. Turkiye and Syria share special relations, and we now have the opportunity to expand them. There are significant projects. Beyond economic cooperation, there is naturally also the potential for expansion. We have committed to this path and continue on our way. We also knew that as we proceed, Turkiye stands by our side. Turkiye has truly played a central role in this process and built this bridge. Therefore, we sincerely want to thank the Republic of Turkiye for all its efforts. Work continues on the planned industrial zone in Aleppo. This will have direct effects on other projects and the business environment.”