Retail & Trade
Syria slightly reduced its trade deficit with Lebanon last year, according to data from the Lebanese customs.
The value of the goods shipped in and out of Syria’s free trade zones declined again last year, according to preliminary estimates.
Syria’s free trade zones shipped a total of SYP 84 billion worth of goods last year, according to official data.
Syria’s exporters federation has reached an agreement with Lebanon’s Ministry of Interior to ease the entry of its members into Lebanon, the head of the federation said.
The World Trade Point Federation has agreed to reopen its Syria branch after a closure that lasted two years, according to Syria’s export development agency.
The value of goods shipped into and out of Syria’s free trade zones dropped sharply in 2013.
Updated on November 12: KFC, the US fast food chain closed its last restaurant in Damascus, as the company’s operations were disrupted by the ongoing conflict.
Trading in Syria’s free trade zones continued to plunge in the first eight months of this year, according to a government official.
Chalhoub Group, a distributor of fashion and beauty products, is taking a 85 percent loss in its operations in Syria, its CEO said.
Trade activity in Syria’s free zones declined some 26 percent last year over the general contraction in business activity and rising violence witnessed across the country.
The volume of trade in Syria’s free trade zones reached SYP 56 billion in the first ten months of the year, a figure that marks a strong decline from previous years.
The head of the General Organization of Free Trade Zones said that the total trade volume by companies established in the zones reached SYP 33 billion in the first half of this year.
Bilateral trade between Lebanon and Syria remained remarkably stable in the first five months of this year.
Syria ranked only 108th in the world in the latest edition of the Enabling Trade Index of the World Economic Forum.
Damascus is witnessing the opening of its latest commercial mall in the midst of a steep decline in consumer spending and a severe economic downturn.
Dama Rose Damascus Hotel
Damascus International Fairground