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FINANCIAL NEWS
Turkey decides to launch new trade routes to evade Syria
08 Dec 2011
(MENAFN) Turkish Economy Minister, Zafer Caglayan, said that following a collapse in bilateral ties between his country and Syria and increasing violence in the Arab country, Turkey would launch new trade routes to avoid crossing Syria, reported Arab News.
Caglayan added that Turkey would start exporting products to Egypt via sea, and overland through Iraq, however, he said that the Turkish government considered finding new trade routes to the Middle East since Ankara raised its criticism to Syria’s President Bashar Assad over demonstrations’ crackdown.
He also said that cargo ships would begin traveling between Turkey’s southern Mediterranean port of Mersin and Egypt’s Alexandria, and trucks would start crossing into Iraq.
It is worth noting that in 2010, bilateral trade between Syria and Turkey reached around USD2.5 billion, with Syria receiving more than 10 percent of its imports from Turkey, while imports from Syria represented 0.3 percent of Turkey’s total imports.
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