New Horizons in Turkey–Syria Trade – Opening the Doors to a New Era – Aysel Ölçen Aydıner
In recent years, the field of trade with Syria was largely dominated by a few countries. Despite its geographical advantage as a neighbor, Turkey had been excluded from these opportunities due to political conditions and imposed restrictions.
However, as of 2025, the picture has begun to change rapidly. With the publication of Circular No. 2025/4, Turkey lifted export, import, and transit restrictions on Syria. At the same time, the Syrian government took significant steps to accelerate trade by removing import bans on approximately 2,000 items and introducing a unified customs regime.
These developments represent not only the normalization of trade relations between the two countries but also the reopening of a market long steered by other nations, making it accessible again for Turkey.
Political Groundwork and Economic Opportunities
The revival of diplomatic dialogue between Turkey and Syria enables the restoration of trust in trade relations. For many years, political tensions and various restrictions blocked trade between the two nations. Today, however, mutual steps have revived hope in the business world. This environment is not limited to state-to-state relations but also encourages private sector representatives to pursue new projects with greater confidence and entrepreneurial spirit.
Turkey’s geopolitical position is one of the key elements supporting this process. Serving as a natural bridge between Europe and Asia, Turkey offers the shortest and safest route to the Middle East through Syria. This advantage provides Turkish entrepreneurs with a strong competitive edge not only in the Syrian market but also in accessing Gulf countries and North Africa. At a time when regional supply chains are being reshaped, Turkey has the potential to become a powerful hub in terms of both cost and logistical efficiency.
Furthermore, the lifting of import bans and the reduction of customs duties reduce practical barriers to trade, creating business opportunities across a wider range of products. Negotiations to revive the previously suspended Free Trade Agreement could, in the medium term, further reduce costs and rapidly expand trade volume.
Signing of the JETCO Agreement – August 5, 2025
One of the most significant milestones in this process took place in Ankara on August 5, 2025. Turkish Minister of Trade Ömer Bolat and Syrian Minister of Economy and Industry Nidal Eş-Şa’ar announced the signing of the Joint Economic and Trade Committee (JETCO) agreement between the two countries.
This agreement not only paves the way for current trade but also lays the foundation for long-term institutional cooperation. Through JETCO, regular meetings will be held, trade-related issues will be jointly resolved, and intersectoral cooperation projects will be developed. This will move bilateral economic relations away from ad hoc arrangements toward a sustainable and predictable framework.
For Turkey, this agreement represents the opportunity to reclaim economic prospects long dominated by other countries. Combined with geopolitical and cultural proximity, this new institutional framework carries the potential to position Turkey as one of the strongest actors in the region.
Financial Transformation and Confidence
A strong financial infrastructure is crucial for the revival of trade. In this respect, recent developments in Syria’s banking system are promising:
- International Integration: As of June 2025, Syrian financial institutions were removed from international sanctions lists, and the first money transfers through SWIFT took place, paving the way for renewed relations with foreign banks.
- Turkish Banks’ Preparations: Turkish banks’ efforts to establish representative offices and correspondent relationships in Syria will provide a more secure and transparent foundation for commercial flows.
These developments reduce risks related to receivable collections, creating a more stable financial environment for businesspeople.
Legal Perspective
The new process brings both opportunities and risks. Trade between the two countries will now be governed by the principle of equal treatment, subject to the general rules applied to other nations. While transit transportation has been liberalized for all goods except metal scrap, it should not be overlooked that permits can be revoked at any time for security reasons.
Therefore, commercial agreements should include detailed provisions covering force majeure, sanctions, and permit cancellations. While the JETCO agreement introduces an institutional mechanism at the intergovernmental level to enhance predictability in trade disputes, it remains essential for the private sector to secure itself legally.
Conclusion and Evaluation
The new era in Turkey–Syria trade presents a historic opportunity for the business community. The removal of barriers, simplification of customs, establishment of an institutional cooperation framework through JETCO, and steps toward banking integration offer Turkish companies a competitive advantage not only in the Syrian market but across the entire Middle East.
In the coming period, new investment and partnership opportunities are expected to arise in many sectors, from logistics to energy, telecommunications to financial services. Properly managed, these opportunities can provide long-term strategic value beyond short-term gains.
At the same time, it must be remembered that, like every major opportunity, this process comes with uncertainties and risks. Security-related regulations, vulnerabilities in the banking system, and the volatility of trade permits are critical issues that businesspeople must carefully consider in their roadmaps.
At this point, a strong legal framework to support commercial vision is of vital importance. Sound legal planning not only mitigates risks but also ensures that opportunities are transformed into lasting, safe, and sustainable gains.
Aysel Ölçen Aydıner
Lawyer–Mediator
Contact: koc@hedefkoc.com
