Syria This Week (STW #1)
Assorted Links: August 1- August 7
Turkey Seeks to Build Industrial Zones in Syria to Bolster Trade: “We hope that Turkey will establish factories in Syria and distribute industrial products through Syria.” - Nidal Al-Shaar, the Syrian Minister of Economy and Industry.
Syria signs $14 billion in investment deals, including airport and subway projects: “The agreements included a $4 billion deal for building a new airport in Damascus signed with Qatar's UCC holding, and a $2 billion deal to establish a subway in the Syrian capital with the UAE's national investment corporation.
Other major developments include the $2 billion Damascus Towers project signed with Italy-based UBAKO.”
Türkiye, Syria sign deal to launch business council, boost economic ties: “The discussions focused on cooperation opportunities within Syria’s post-war reconstruction process, particularly in the areas of infrastructure and public services through Build-Operate-Transfer (BOT) and Public-Private Partnership (PPP) models.”
The Trump administration has hit Syria with the highest tariff rate of any country in the world: 41%: “While the recent lifting of many U.S., U.K., and EU sanctions was a welcome development for Damascus’ economic ambitions, Washington’s imposition of steep tariffs now threatens to restrict any potential for meaningful trade with the United States. […] More than two-thirds of Syria’s electricity grid is non-functional, according to aid organizations, with major cities like Aleppo and Damascus facing blackouts for more than 20 hours a day. In many rural and conflict-ridden areas, there is no power at all. […] Economic observers note that the 41% tariff itself will have little actual impact on Syria’s devastated economy, since bilateral trade between the two countries is so negligible. “But the symbolism behind this decision carries far greater weight than the trade figures suggest,” Cafiero said.”
Kilis-Aleppo natural gas pipeline opened: Gas flow from Turkey to Syria started: “Turkey, Qatar, Azerbaijan and Syria are supporting a project that will provide electricity to 5 million households in Aleppo. […] the new pipeline means the electricity supply in Syria will be increased from between three and four hours a day to ten hours a day.”
Türkiye says its banks set to launch operations in Syria: "From now on, our trucks will no longer need to transfer cargo or swap trailers at the Syrian border. In the coming period, Aleppo will become a strong logistics hub. Syria's transportation corridors will be reactivated. We are entering a new era where transit transport to Gulf countries will resume, and both our countries will benefit from emerging areas of cooperation in trade,"