RIYADH: Turkiye and Syria have agreed to establish a joint business council to foster economic collaboration and facilitate trade and investment between the two countries.
The new platform will operate under the Foreign Economic Relations Board of Turkiye and aims to strengthen cooperation between public and private sectors, focusing on rebuilding economic ties and supporting Syria’s reconstruction efforts, the Syrian Arab News Agency, also known as SANA, reported.
The establishment of the council comes on the heels of growing economic cooperation between Turkiye and Syria. Recently, both countries signed a memorandum enabling direct international road transport, eliminating the need for cargo transshipment at the border.
This move is expected to streamline trade routes and integrate Syria into regional logistics corridors via the Middle Corridor toward Gulf states. Additionally, as of Aug. 2, Turkiye began supplying Syria with 2 billion cubic meters of natural gas and 1,000 megawatts of electricity, with Azerbaijan and Qatar as partners.
“In a joint statement issued in Ankara, the two sides affirmed that the Foreign Economic Relations Board will contribute to strengthening cooperation between the public and private sectors of the two countries,” SANA reported, adding: “They will also work to strengthen Syrian customs gates and their infrastructure, improve procedures at customs gates, and enhance cooperation between the two countries’ customs authorities.”
The announcement follows the signing of two key agreements: the Protocol on the Establishment of the Turkiye-Syria Joint Economic and Trade Committee and a Memorandum of Understanding on Cooperation in Administrative Development and Governance.
These accords are designed to deepen bilateral economic relations by addressing trade volume, investment opportunities, and collaborative infrastructure projects.
SANA reported that discussions during the Turkish-Syrian roundtable in Ankara focused on “ways and mechanisms to develop a roadmap for strategic economic and trade cooperation, which will positively reflect on the economic reality in both countries.”
The agency added that more than 10 agreements were signed between institutions in the two countries.
The Syrian Minister of Economy and Industry Mohammad Nidal Al-Shaar and the Turkish Minister of Industry and Technology Mehmet Fatih Kacir also signed an agreement to support joint projects, and exchange expertise in the fields of industrial development and modern technology.
According to Turkiye’s state-run Anadolu Agency, during the inter-delegation meetings “cooperation opportunities in a range of areas, from bilateral trade volume and investments to the reconstruction of Syria and logistics infrastructure projects were discussed.”
Both sides are seeking to build on “historical ties, shared history and culture, and mutual interests between Turkiye and Syria,” the agency reported.
