Trade and Investments
The level of the political relations between Turkey and Syria, geographical proximity of the two countries and familiarity between two people constitute a favourable atmosphere for the economic relations.
The legal framework of economic relations was strengthened with the Free Trade Agreement, mutual abolishment of the visas and completion of several bilateral agreements.
It is expected that volume of trade between the two countries, in a short time, will reach to 5 billion dollars from 800 million dollars thanks to the Free Trade Agreement. Turkey’s trade volume reached to 1, 8 billion dollars as of 2009. This number surpassed 2, 2 billion dollars in the first 11 months of 2010 and it is envisaged to reach to the target of 5 billion in a short period of time.
|
Years
|
Export
|
Import
|
Trade Volume
|
Balance of Trade
|
|
2000
|
184.267
|
545.240
|
729.507
|
-360.973
|
|
2001
|
281.141
|
463.476
|
744.617
|
- 182.335
|
|
2002
|
266.772
|
506.247
|
773.019
|
- 239.475
|
|
2003
|
410.755
|
413.349
|
824.104
|
- 2.594
|
|
2004
|
394.783
|
357.656
|
752.439
|
37.127
|
|
2005
|
551.627
|
272.180
|
823.807
|
279.447
|
|
2006
|
608.140
|
187.006
|
795.146
|
421.134
|
|
2007
|
797.312
|
376.958
|
1.174.270
|
410.354
|
|
2008
|
1.113.026
|
639.213
|
1.752.239
|
473.813
|
|
2009
|
1.115.013
|
327.640
|
1.442.653
|
787.373
|
|
2010
|
1.641.805
|
630.610
|
2.272.415
|
1.011.195
|
Electrical machines, mineral fuels, animal and vegetable oil, plastics, automotive and subsidiary industry products, iron and steel products, processed petroleum products, chemical products, cement, glass, ceramics, products of brick and tile industry, leather products, forest products, wheat, flour and margarine are major products exported to Syria.
Mineral fuels, cotton, oilseed and fruits, automotive and subsidiary industry products, paper and carton paper, vegetables, unprocessed animal hide, fertilizer and wool are major products imported from Syria.
Investments of Turkish companies in Syria are nearly 260 million dollars and Turkish companies take the first place in the ranking of foreign investments with respect to project number.
More than 20 Memorandums of Understanding and Protocols were signed in the fields of economy and trade in the meetings realized in the level of Ministers and Prime Ministers within the scope of High Level Strategic Cooperation Council which was formed in 2009 between Turkey and Syria.
According to the data of the Ministry of Culture and Tourism, the number of the Syrian tourists who visited Turkey in 2007 was 332,847. An increase of 22, 26 % was realized in 2008 with 406,935 tourists. In 2009, the number totaled 509,679 with an increase of 25 %. According to the data of Ministry of Tourism of Syria, on the other hand, the number of the Turkish tourists who visited Syria was 485,953 in 2007 and with an increase of 15 % compared to the previous year, 562,932 in 2008.
While the number of the Syrian tourists in 2009 was 509,679, it reached to 899,494 in 2010. Hence, an increase of 91 % with regard to visitor number was recorded in 2010 compared to the previous year. Syria became the 8th country which sends most tourists to Turkey in 2010.
The number of the Turkish tourists who visited Syria in 2010 was 1,664,209, which constitutes an increase more than 100% compared to the previous year (733,132).
Turkish – Syrian Regional Cooperation Meeting concerning bilateral cooperation in the field of tourism (Turkish-Syria Joint Tourism Commission Meeting) was held on 12-14 January 2011 in Damascus. Ertuğrul Günay, Minister of Culture and Tourism of Turkey, participated in this meeting.
Rate of Increase
|
YEAR
|
SYRIAN TOURISTS
|
|
2002
|
126.323
|
|
2008
|
406.935
|
|
2009
|
509.679
|
|
2010
|
899.494
|
Rate of Increase
|
YEAR
|
TURKISH TOURISTS
|
|
2002
|
467.648
|
|
2008
|
562.832
|
|
2009
|
733.132
|
|
2010
|
1.664.209( including daily visits)
|
|
2010
|
864.988(tourists who stayed more than one day)
|
According to the data of the Ministry of Tourism of Syria, 8,545,849 tourists visited Syria in 2010. Turkish tourists constitute almost 20 % of this number.
While the rate of the Syrian visitors in the total number of people who visited Turkey was 1, 88 % in 2009, this rate increased to 3, 14 % in 2010.
Bilateral Cooperation Mechanisms
Joint Economic Commission (JEC)
Last (6th) meeting of the Joint Economic Commission, which was founded within the framework of the Agreement on Economic, Scientific and Technical Cooperation (1982), was held on 28-29 July 2003 in Ankara. Minister of State Cevdet Yılmaz is the co-chair of JEC. The meetings of the Partnership Council, formed within the framework of the Free Trade Agreement, substantially replaced the JEC mechanism.
Partnership Council/ Committee
The 3rd meeting of Turkish-Syrian Partnership Council was held in Istanbul on 23-24 July 2009 under the co-chairmanship of Minister of State Zafer Çağlayan and Minister of Economy and Trade of Syria Amer Housni Loutfi. The 4th meeting of Partnership Committee, formed within the framework of the Council, was held in Ankara on 6-7 January 2011.
Industry Follow-up Committee
The 3rd meeting of the Industry Follow-up Committee, formed with respect to the Agreement signed in 2004 by the Ministers of Industry of the two countries, was held in Izmir in 2006. The 4th meeting was held in Damascus on 7-8 April 2010 under the co-chairmanship of Nihat Ergün, Industry and Trade Minister of Turkey.
Business Council
The last meeting of the Turkish-Syrian Business Council was held in Istanbul on 1-3 May 2006. The Turkish-Syrian Labour Forum, as a part of 2nd Ministerial Meeting of the Turkish-Syrian High Level Strategic Cooperation Council which was held on 2-3 October 2010 in Latakia, took place on 2 October 2010 in Tartous with the participation of Zafer Çağlayan.
Joint Commission for Land Transportation
Meeting of Turkish-Syrian Joint Commission for Land Transportation was held in Damascus on 30-31 January 2011.
Legal Framework
Trade Agreement, Protocol on Economic Cooperation, Agreement on the Prevention of Double Taxation, Agreement on Mutual Promotion and Protection of Investment and Free Trade Agreement constitute the legal ground of Turkish-Syrian bilateral economic and commercial relations.