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How does the market interpret the developments between Türkiye and Syria?

According to a statement by the Ministry of Trade, steps have been taken to revitalize economic and trade relations between Tuürkiye and Syria. How do market representatives interpret these developments?

How does the market interpret the developments between Türkiye and Syria?

The steps taken to revitalize economic and trade relations between Türkiye and Syria were met with curiosity and expectations in the markets. Within the framework of the roadmap set out by the Ministry of Trade, the revision of customs duties, the revival of the Free Trade Agreement and the expansion of cooperation areas were on the agenda in a remarkable way.

However, according to data received from market players, no concrete developments have yet been made in this process. According to information obtained by Steelradar from the Iskenderun region, no iron and steel products are currently being shipped to Syria. However, it is emphasized that developments will be monitored in the coming period and there are expectations that trade will resume.

Although expectations for the resumption of trade continue, it is emphasized that factory-based sales have not yet started and that the conflicts experienced in the past constitute an obstacle to trade. Officials say that in the past, shipments were made within the scope of commercial border trade, but the current situation has become more complicated.

A market representative said that they do not have clear information on the current situation, but material shipments have been steady in the past. There are concerns that high tariffs could have a negative impact on trade.

Finally, there is talk of a 200% tariff on imports of iron and steel products from Türkiye and a 20% tariff on some other products such as concrete, but there is hope that this may change with future agreements. In terms of the future of trade, it is important that negotiations between the parties continue and market dynamics are closely monitored.

The process will be carefully monitored for the reflection of new developments on the markets.


Related news : https://www.steelradar.com/haber/turkiye-ve-suriye-ticaret-iliskilerinde-yeni-donem-basliyor/

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