Turkish companies are reeling from a recent Syrian government decision to ban the import of products that have a customs tax of more than 5%. Meanwhile, the Turkish government is considering whether or not to slap punitive policies, such as possible economic sanctions, against its eastern neighbor and former close political ally.
The Syrian government announced on September 22 that it would suspend imports of high-tariff goods.
Last week, Syria’s minister of economy and trade described the partial import ban as “temporary and precautionary.” According to the Syrian state news agency SANA, Mohammad Nidal al-Shaar said the ban was aimed at preserving dwindling foreign currency reserves.
According to a list published by the Turkish Ministry of Economy, the products Syria has banned include mobile phones, contact lens fluid, and vehicles ranging from passenger buses and vans to ambulances and trucks used for construction.