Lifting Syria sanctions will benefit Turkish firms and banks, says BBVA CEO
LONDON, May 14 (Reuters) - Turkish companies and banks will benefit from a lifting of U.S. sanctions on Syria, Onur Genc, chief executive officer of BBVA said on Wednesday.
In a major U.S. policy shift, U.S. President Donald Trump said on Tuesday that he would order the lifting of sanctions on Syria, and met with Syria's Islamist President Ahmed al-Sharaa on Wednesday.
Turkey is expected to play a major role in the reconstruction of Syria as the country emerges from more than a decade of civil war.
"For Turkey, it's going to be positive because there's a lot of reconstruction needed in Syria. Who's there to do that? The Turkish companies," Genc said, whose group comprises Garanti BBVA, the second-largest private bank in Turkey.
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