Trade Target Set at $10 Billion
Syrian and Turkish officials meeting at the 63rd Damascus International Fair on 26 August 2026 set a goal of raising bilateral trade to $10 billion, framing the gathering as a shift from commerce toward investment and joint production. A dedicated Syrian-Turkish business forum ran alongside the fair in the capital.
The Turkish trade minister led the delegation and described the two economies as complementary across infrastructure, energy, industry, food, construction materials, machinery, and technology.
Numbers Behind the Push
Bilateral trade reached $3.7 billion in 2025 and $2.2 billion in the first seven months of 2026, a 16 percent increase over the same period a year earlier. Officials presented the $10 billion figure as a target reflecting what they called the true potential of economic ties.
The Syrian chamber of commerce union and the Syrian Investment Authority both took part, signaling that the push carries backing from the country's trade and investment institutions.
Banks and Border Zones
The forum floated concrete measures: opening branches of Turkish banks inside Syria, establishing joint industrial zones in border areas, and expediting customs and transit procedures. Officials said the two central banks are cooperating on new financial relationships to support cross-border payments.
Roughly 40 Turkish companies joined the forum, spanning industrial and commercial sectors, within a broader delegation of about 200 attending the fair. Participants described the shift as a move from talk of potential to operational activity on the ground.
From Rapprochement to Investment
The engagement builds on a Syrian-Turkish rapprochement underway since 8 December 2024, moving from political and security contacts toward trade and reconstruction. Participants said several Turkish firms have already established operations inside Syria and begun hiring locally.
Planned visits to Aleppo and the Sheikh Najjar industrial zone are intended to identify manufacturing and logistics opportunities as the two governments seek durable economic partnerships. A Turkish business association is also opening a branch in Syria to coordinate the growing commercial presence.