CAPITALS - Economic observers and analysts stress that Syria has been used to adapt with sanctions and external pressures, adding that the latest sanctions will not have great impacts on the Syrian economy.
On the contrary, all figures and data show that the countries participating in imposing the sanctions will suffer more damages.
In this context, the analysts pointed out to the statements of Jordanian Foreign Ministry Spokesman Mohammad al-Kayyed on Monday, in which he said that the sanctions imposed on Syria by the Arab League (AL) will have negative impacts on Jordan.
Al-Kayyed added that Jordan had clarified its stance regarding the AL sanctions on Syria during the last meeting of the Arab Ministerial Committee, adding that Jordan demanded to exempt the aviation and trade sectors from the sanctions.
These statements go along the press release made by Jordanian Trade and Industry Minister Sami Gammoh, who said that 60% of Jordan's trade exchanges pass through the Syrian lands.
For its part, Jordan's Department of Statistics (DOS) said that the trade volume between Syria and Jordan reached USD 7 billion in 2000, adding that value of Jordan's exports reached USD 2 billion with USD 5 billion imports in that period.
These data indicate that Jordan depends mainly on Syria in improving its economic standards.
As for Turkey, The analysts underscored that abolishing the free trade zone agreement between Turkey and Syria will result in more damages to Turkey itself, as Istanbul was more benefitted from the agreement.
Analysts point out that the Syrian industrial figures will be very happy with suspending the agreement, since they were suffering from the Turkish merchandizes' invasion of the Syrian markets.
Trade volume between Syrian and Turkey leapt from USD 400 million in 2004 to USD 2.2 billion in 2010. Turkey's share was about 70%. Thus, suspending the free trade zone agreement will cause damages to Turkey far more than it will to Syria.
Many countries realize that any sanctions imposed on Syria will reflect negatively on them also, as mentioned in the statements of Syria's biggest economic partners; Lebanon and Iraq.
Iraq is Syria's biggest partner, it consumes one third of the Syrian exports. Trade volume between the two countries is estimated at USD 2 billion with expectation to reach USD 3 billion by the end of this year.
As for Lebanon, Beirut announced it will not comply with the AL sanctions, especially that the trade volume between Syrian and Lebanon is estimated at USD 600 million. Syria is the only land passage for the Lebanese exports heading for the Gulf countries.
© SANA (Syria Arab News Agency) 2011
