Istanbul Chamber Eyes Syrian Investment as China Gains Early Ground
İstanbul Chamber of Commerce
Amid emerging signs of stability in Syria, the Istanbul Chamber of Commerce (ICOC) is preparing to seize early investment opportunities, viewing the post-war recovery phase as a strategic moment for Turkish businesses. Chairman Sekib Avdagic, speaking during the chamber’s June assembly in Istanbul, emphasized that China has already secured 800 decares (800,000 m²) of land in Damascus for industrial development—an early signal of growing global competition.
Türkiye Sends Delegation as Syria Enters Reconstruction Phase
To evaluate potential projects, ICOC has dispatched two board members to Syria, where they met with Türkiye’s ambassador in Damascus, the Damascus Chamber of Commerce, and local Syrian industrialists. According to Avdagic, these efforts reflect Türkiye’s intent to reclaim regional economic influence in a country with which it shares deep historical, cultural, and geographical ties.
“There is momentum building in Syria. We cannot afford to lag behind others in engaging with this market,” Avdagic said.
China Secures Key Investment Zones in Damascus
Avdagic noted that Chinese investors have been granted rights over a vast 800-decare land area in Damascus, aimed at establishing a manufacturing hub. This move signals Beijing’s strategic interest in shaping Syria’s industrial revival and serves as a wake-up call for regional players like Türkiye.
Aleppo Offers Strategic Potential for Turkish Firms
While Damascus is a focal point, ICOC is also eyeing Aleppo—a city with longstanding commercial and cultural links to Türkiye. Its geographic proximity and shared business culture make it a prime candidate for Turkish investment, especially in logistics and light manufacturing.
“Aleppo is not just physically close, it is also mentally aligned with Türkiye,” said Avdagic, pointing to the relational advantages Turkish companies might enjoy.
Cross-Border Connections Could Accelerate Investment
Another major opportunity, Avdagic noted, lies in reestablishing ties with Syrian entrepreneurs who previously resided in Türkiye and have since returned home. These cross-border links could provide fast-track entry points for Turkish businesses by combining Syria’s low-cost base with Türkiye’s technological and industrial know-how.
“With the right partnerships, we can see tangible investment benefits in the short term,” he concluded.
As China accelerates its footprint in Syria, Türkiye’s Istanbul Chamber of Commerce is moving to establish an early investment presence—particularly in Damascus and Aleppo. Leveraging cultural proximity and cross-border business ties, Turkish firms may find unique strategic openings in Syria’s evolving economic landscape.