Egypt's gold prices fall on Monday    Egyptian pound stable vs. USD at Monday's close    Hisham Talaat Moustafa leads Egyptians in Forbes 2025 travel and tourism list    Egypt, Germany FMs discuss Gaza escalation, humanitarian crisis    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt, Huawei discuss expanding AI, digital healthcare collaboration    Israel's escalating offensive in Gaza claims over 61,000 lives amid growing international pressure    Chinese defence expert dismisses India's claim of downing Pakistani jets    Al Ahly Sabbour, Jedar secure EGP 10bn in YOUD Ras El-Hekma sales within 2 days    Spinneys Ninth Annual Celebration Honoring Egypt's Brightest Graduates    Al-Sisi, Türkiye's FM discuss boosting ties, regional issues    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt signs vaccine production agreement with UAE's Al Qalaa, China's Red Flag    Egypt to inaugurate Grand Egyptian Museum on 1 November    Oil rises on Wednesday    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Egypt's Foreign Minister discusses Nile water security with Ugandan president    Egyptians vote in two-day Senate election with key list unopposed    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Foreign, housing ministers discuss Egypt's role in African development push    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Turkey opens new trade routes to bypass Syria
Turkish goods will be exported to Egypt by sea and overland via Iraq, says country's economy minister
Published in Ahram Online on 07 - 12 - 2011

Turkey said on Wednesday it would begin exporting goods to Egypt via sea and overland through Iraq this week as it seeks to bypass existing trade routes through Syria following a breakdown in ties and rising violence in its southern neighbour.
Turkishs Economy Minister Zafer Caglayan also said Damascus had started allowing Turkish trucks to enter Syria on Tuesday after blocking their entry last week in retaliation for sanctions imposed by Ankara.
Turkey has been eyeing new trade routes to the Middle East ever since relations with Syria broke down following Ankara's increased criticism of President Bashar al-Assad over his bloody crackdown on a popular uprising that began in March.
"It is very easy for us to bypass Syria but we had preferred not to do this. We had still wanted to transit our trade through Syria and let the Syrian economy make money out of this," Caglayan told Turkish television channel CNBC-e.
"But they wanted it this way. I say again, whatever they do they will suffer more than Turkey every time. To do trade with the Middle East and the Gulf, (we) do not have to go through Syria. Our A, B and C plans are already ready."
Caglayan said cargo ships would start travelling between Turkey's southern Mediterranean port of Mersin and Egypt's Alexandria on Thursday. Trucks would also begin crossing into Iraq.
Last week, Turkey announced a list of economic sanctions on Syria it said would target the government, including freezing state assets and imposing a travel ban on senior officials as well as suspending financial transactions.
Syria responded over the weekend by suspending a free trade agreement between the two countries and by imposing a 30 per cent tariff on all Turkish imports and prohibitive duties on fuel and freight. Turkey shrugged off the decision saying the Syrian people would be the ones that suffered most.
Caglayan said Damascus had started blocking Turkish trucks from crossing into Syria last week in retaliation for Ankara's sanctions but begun allowing them to cross again on Tuesday after Turkey decided to pursue alternative routes.
"As soon as we started implementing steps (to open new routes) yesterday evening, the Syrian government immediately started allowing our trucks to pass," he said.
Turkey is a major trading partner for Syria with bilateral trade last year totalling some $2.5 billion. Syria received more than 10 per cent of its imports from Turkey in 2010 while imports from Syria made up only 0.3 per cent of Turkey's total imports, Caglayan said this week.
On 17 November, Caglayan said while exports to Syria had risen by nearly 4 per cent in the first nine months of 2011, October and November figures had shown a 10 percent drop compared to last year as the increasing violence put off Turkish firms.
Muslim Turkey was once one of Syria's closest regional allies, and Turkey's Prime Minister Tayyip Erdogan had built a strong rapport with Assad.
But as the violence grew worse and Assad ignored Erdogan's advice to halt a crackdown on protesters and make urgent reforms, relations became increasingly frosty and Erdogan has now bluntly told Assad he should quit.
Turkey now hosts Syrian military defectors and an umbrella Syrian opposition group.


Clic here to read the story from its source.