ANKARA: Turkey and its Arab neighbors are due to enter into a free-trade area (FTA) agreement early next year, a pact both sides see as politically beneficial. But closer trade ties have already begun causing economic disruptions in Syria and could threaten the other Arab partners as Turkey's industrial juggernaut gains freer access to their markets.
Since the two sides have eased trade barriers, including a bilateral FTA signed in 2005, Syria has been hit by an onslaught of exports from neighboring Turkey. Turkish exports to Syria have quadrupled in the five years and in 2009, Syria ran a $756 million trade deficit with Turkey.
Since the two sides have eased trade barriers, including a bilateral FTA signed in 2005, Syria has been hit by an onslaught of exports from neighboring Turkey. Turkish exports to Syria have quadrupled in the five years and in 2009, Syria ran a $756 million trade deficit with Turkey.
