Important Note: The Arab region is undergoing deep changes, many countries are changing rapidly, some to more open economies, and others not. In the case of Syria, the civil war situation makes it extremely complex
to do business in Syria. Furthermore, it is hard to reflect these socio-political changes on the course content.
Syrian Petroleum industry accounted for 23% of the Syrian GDP
Syrian manufacturing sector accounts for only 6% of the GDP, employing 11% of the population
In a medium and long-term (beyond petroleum and gas sector) could open up opportunities for the foreign direct investment in the food sector
In the Syrian Arab Republic products must be labeled indicating the country
of origin
Labeling: bilingual (Arabic and English), especially for consumer goods is advised
Currency of Syria: Syrian Pound (SYP)
Syrian Foreign Trade
Top suppliers of Syria: Italy, Germany, France, Turkey, Ukraine, Saudi Arabia, and the United States
Top
export markets of Syria: Germany, Italy, France, Saudi Arabia, Iraq, and Turkey
The Syrian Arab Republic is not a member of the WTO
The import duties are very high
Syrian Regional Institutions and Trade Agreements.
Syria has Trade Agreements with Saudi Arabia (1972), Egypt (1990), Kuwait (1991), Lebanon (1998), the UAE (2000), Qatar (2000), Iraq (2001), and Jordan (2002). The trade agreement with Turkey will lead to a Free-Trade Area.