Turkish Firms Eye Syrian Reconstruction: Opportunities Amid Challenges

Turkish companies are poised to capitalize on investment opportunities in Syria following the lifting of U.S. sanctions. While optimistic about entering a market with extensive post-war reconstruction needs, lingering security issues and financial system challenges are causing cautious optimism.

The U.S. lifted sanctions that isolated Syria economically, prompting Turkish firms to prepare for major roles in construction and manufacturing sectors. However, Turkish executives emphasize the need for improved banking and tax systems to facilitate foreign investment. They also express concerns about potential risks in a volatile environment.

Trade between Turkey and Syria is increasing, with notable spikes in machinery and building material imports. Despite barriers, Turkish companies aim to seize market shares, encouraged by Syria's economic rebuilding and lower production costs. Security and stability remain top concerns for investors, who are nonetheless eager to engage in Syria's recovery.

(With inputs from agencies.)