Latest news with #Iraqi-SyrianBusinessCouncil
Shafaq News
3 days ago
- Business
- Shafaq News
Crippling local economy: Strategic Iraq-Syria border crossing remains shut
Shafaq News/ The strategic al-Qaim border crossing between Iraq and Syria remains closed, dealing a heavy blow to the economy of Iraq's western border province of al-Anbar, according to local officials who are pressing Baghdad to intervene. Al-Qaim's district administrator, Turki Muhammad Khalaf, told Shafaq News that the crossing is 'completely shut down at the moment, except for trucks carrying wheat as humanitarian aid to Syria.' He warned that 'this ongoing closure has deeply hurt the district's economy, which depends almost entirely on trade through this vital lifeline.' Khalaf said that the final decision to reopen the crossing rests with the Prime Minister's Office, urging the federal government to act quickly and restore trade flows. 'Reopening al-Qaim is crucial to bringing life back to the local economy, which is facing a clear downturn because of the stalled trade with Syria,' he added. The crossing's prolonged closure follows the collapse of Syrian President Bashar al-Assad's government last December and the subsequent withdrawal of Syrian forces from al-Bukamal, the town opposite al-Qaim on the Syrian side. Only Iraqis returning from Syria have been allowed to cross since. For Iraq, the stakes are high. Al-Qaim crossing has long been a key trade hub, with bilateral commerce exceeding $1B in 2024, according to the Iraqi-Syrian Business Council. Last month, Syria's port and land border authority confirmed that talks to reopen both al-Bukamal and al-Qaim crossings are in advanced stages.
Shafaq News
10-02-2025
- Business
- Shafaq News
Baghdad, Damascus to reopen trade route
Shafaq News/ Iraq is preparing to resume trade with Syria in the coming days after Syrian authorities fulfilled Baghdad's requirements. The Head of the Iraqi-Syrian Business Council, Hassan Al-Sheikh, told Shafaq News that Iraq had finalized preparations to restart trade but had requested Syria to establish a complete border facility to prevent the entry of smuggled goods. "The Syrian side has completed the requirements, including customs, security, passport control, and official seals. We are now awaiting the signing of an agreement between Iraqi security authorities and their Syrian counterparts, outlining operational procedures, the list of goods to be exchanged, and the necessary documentation, such as certificates of origin, customs declarations, and inspection reports. The crossing is expected to be operational this week," Al-Sheikh explained. Regarding key trade items, Al-Sheikh noted that Iraq would export dates, food products, and various industrial goods while importing Syrian confectionery, baked goods, fruits, vegetables, cosmetics, perfumes, pharmaceuticals, and medical supplies. Syria's Ministry of Economy previously told Shafaq News, that its economic strategy included boosting exports, opening new markets for Syrian products, and expanding trade with allied nations, including Iraq. The plan also aims to improve logistical infrastructure to facilitate exports. On December 15, the Iraqi Ministry of Trade announced halting imports of Syrian goods. The Ministry Spokesperson, Mohammed Hanoun, told the Iraqi News Agency, 'Uncertainty in Syria's political landscape has led traders to stop purchasing and importing food and household goods until the situation stabilizes.' Trade between the two countries has been minimal due to Syria's security conditions since 2011, Hanoun added. Economic sanctions have hindered financial transactions, forcing traders to use regional and Asian banks. As a result, Syrian goods have lost market share in Iraq, replaced by imports from Turkiye, Iran, Gulf nations, and China. Rising fuel costs in Syria have further driven up prices, making its products less competitive.
