Damascus fair opens as Türkiye targets $10B trade with Syria

Turkish Trade Minister Ömer Bolat announced on Tuesday that the 63rd Damascus International Fair will serve as a platform for deepening economic ties between Türkiye and Syria, with Ankara targeting a surge in bilateral trade volume to $10 billion through joint investments and expanded local production partnerships.

Speaking to Anadolu ahead of the opening, Bolat stated that businesspeople from both nations will convene for roundtable discussions at Syria's longest-standing global trade exhibition. More than 800 firms from 44 countries attended last year's event alongside two million visitors, while Türkiye participated with 33 exhibitors and has secured 120 square meters (1,291.6 square feet) of booth space for this year's edition.

Trade momentum builds on $2.2B volume

Bolat highlighted that bilateral trade climbed over 16% year-on-year in the first seven months of 2024, reaching $2.2 billion. "Our trade volume surged over 16% on an annual basis in January-July this year, reaching $2.2 billion, something we deem extremely valuable for the future of our economic and trade relations," he said.

The minister noted that Türkiye adopts a permanent approach founded on a win-win principle in its efforts to further commercial relations with Damascus. "We deeply care about establishing a comprehensive and sustainable foundation for our relations with Syria, reinforcing one another in trade, investments, institutional contacts, and people-to-people interactions," Bolat stated.

Investment opportunities span key sectors

As part of the fair program, delegates will visit the Sheikh Najjar Industrial Zone in Aleppo to meet with local business leaders and assess production capabilities on the ground. "We believe there are significant opportunities that Turkish and Syrian firms can explore together across a very broad range of sectors, ranging from infrastructure and superstructure to construction, from energy to logistics, food and textiles, machinery, chemicals, healthcare, and technology," Bolat said.

The revival of economic activity in Syria has created new avenues for cooperation, with Ankara combining its geographical proximity and logistical advantages to capture the emerging potential. Bolat urged both countries to act jointly in third markets, creating mutual opportunities rather than competing.

Sustainable cooperation beyond commerce

"Sustainable, genuine economic cooperation goes beyond selling and buying goods; it involves producing together, investing, sharing tech and expertise, and jointly expanding into new markets," Bolat noted. He added that the delegation hopes to see private sector relations evolve into distribution agreements, local production models, and long-term strategic partnerships.

The fair will feature promotional activities including product showcases, tasting events, and cultural performances such as folk dances. Last year's $3.7 billion trade volume between the neighboring countries provides the foundation for Ankara's ambitious $10 billion target, which officials aim to achieve through sustained institutional engagement and shared industrial projects.