Islam Times - Iran Anticipates Surge in Exports to Syria amid Ongoing Political Uncertainty

Islam Times - Iranian businesses are expecting a substantial increase in their exports to Syria via Iraq following the recent fall of the government in Damascus, which has triggered a period of political and economic instability in the country.

Jahanbakhsh Sanjabi, Secretary General of the Iran-Iraq Joint Chamber of Commerce, stated on Wednesday that Iran has been exporting goods and commodities to Syria through a transit corridor passing through the Iraqi Kurdistan region. This route leads to an unofficial border crossing with Kurdish areas in northeast Syria.

Sanjabi emphasized that the collapse of the Syrian government will likely result in higher prices for energy and basic goods in the country, driving a significant demand for imports. “The ongoing unrest in Syria could lead to an increase in exports of goods from Iran to Iraq and further to Syria,” he told ILNA news agency.

Iraq, which is the second-largest importer of Iranian goods, purchases more than $10 billion worth of exports annually. According to data released earlier this week by the Iranian customs office, Iraq imported $8.3 billion worth of shipments from Iran in the eight months leading up to November 20.

Iran had plans to significantly expand its economic ties with Syria, particularly in land and sea exports, during the tenure of former president Bashar al-Assad. However, Assad unexpectedly left Syria last week, with power transitioning to several armed groups that advanced into Damascus over the weekend.