(MENAFN- AzerNews) In a significant step toward revitalizing bilateral ties, Turkiye and Syria signed the founding protocol of the Joint Economic and Trade Committee (JETCO) yesterday in Ankara. The agreement sets an ambitious short-term goal of reaching a $5 billion trade volume and includes consensus on 10 key cooperation agreements.

Institutional Framework for Economic Dialogue

The establishment of JETCO marks the launch of a formal mechanism to address all dimensions of economic and trade relations between the two nations. As part of the initiative, the Turkiye-Syria Business Council under the Foreign Economic Relations Board (DEİK) will also be reactivated, enabling regular meetings between business representatives from both countries.

Customs and Transport Modernization

Speaking at the Turkiye-Syria Roundtable Meeting, Turkish Minister of Trade Ömer Bolat shared details of the protocol signed with Syrian Minister of Economy and Industry Nidal Şaar. Bolat emphasized Turkiye's readiness to begin negotiations for a “Comprehensive Economic Partnership Agreement,” proposing a new-generation framework for bilateral cooperation.

He noted that customs procedures and transportation logistics were thoroughly discussed during the meeting:

“Our trucks will no longer need to transfer cargo or swap trailers at the Syrian border. In the near future, Aleppo will become a robust logistics hub. Syria's transport corridors will be reactivated, and we are entering a new era of mutual gain in trade, including renewed transit access to Gulf countries.”

Bolat added that customs modernization efforts are underway to streamline border crossings, accelerate trade, and enhance security. Turkiye is also upgrading its customs gates leading into Syria.

Confidence in Turkish Business Expertise

Syrian Minister Nidal Şaar expressed strong confidence in Turkish economic capabilities:

“We trust the Turkish economy and especially the experience of Turkish businesspeople in investment. We will start with small and medium-sized enterprises and move toward larger projects.”

New Border Gates on the Horizon

Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkiye (TOBB), highlighted Turkish firms' eagerness to invest in Syria. He pledged support for establishing industrial zones, including legal and regulatory groundwork:

“Given the growth potential of trade between our countries, the existing Cilvegözü Border Gate will soon be insufficient. We must begin discussions on opening new border crossings.”

Toward a New Era of Regional Integration

The JETCO protocol signals a renewed commitment to economic integration and regional cooperation. With infrastructure upgrades, institutional dialogue, and business engagement, Turkiye and Syria are laying the groundwork for a dynamic and mutually beneficial partnership.

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