Syrian Businesses Eye Global Market Via Debut Trade Expo

9/5/2024 11:15:15 AM

(MENAFN- IANS) Damascus, Sep 5 (IANS) Syrian business representatives and industry insiders view the country's first international trade expo as a significant opportunity for local businesses to enter global markets.

Expo Syria 2024, which opened Wednesday at exhibition City near Damascus, has drawn over 600 companies from various sectors and attracted more than 3,000 foreign traders and business figures.

Raed Al-Nouri of Syria's Al-Nouri Food Company told Xinhua news agency that the five-day expo is "a great opportunity for Syria's recovery, especially in expanding exports to neighbouring countries."

Ridwan Debs Wlaban, media director at Columbus Company, expressed confidence in the competitiveness of Syrian goods in international markets, citing their "quality, variety, and competitive pricing."

"This expo is a gateway to new markets, with Aleppo alone representing more than 50 percent of textile industry participants, along with significant involvement in the chemical, engineering, and food sectors," Mustafa Kawaya, vice president of the Aleppo Chamber of Industry, told Xinhua.

However, some participants expressed concerns about the impact of Western sanctions on Syrian businesses. Eyad Mohammed, head of the Export Committee at the Syrian Federation of Agricultural Chambers, noted that Syria's annual export revenue has plummeted from eight billion US dollars to one billion dollars due to sanctions.

"Sanctions affect transportation, banking transfers, and the cost of production components, making it harder for Syrian products to compete in global markets," he said.

MENAFN05092024000231011071ID1108640987

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.