In press statements following a two-day visit to the Syrian capital, Damascus, accompanied by Turkish Trade Minister Ömer Bolat, Olbak explained that Syrian Transport Minister Yarub Suleiman Badr had indicated during a meeting in Damascus that there were some ports and facilities they did not wish to operate, and that they were prepared to cooperate with anyone who wanted to operate them.
Commenting on the Syrian minister's remarks, Olbak said, "I believe this is an area that can be quickly entered into, because we are not talking about a zero-sum investment, but rather about existing facilities that are dormant and inefficient."
He also highlighted the importance of the visit, which came after the formation of the new Syrian government, explaining that they first met with Syrian Minister of Economy and Industry Nidal al-Shaar, and noted that they discussed investment aspects with al-Shaar.
Investments take time.
He added, "We must be realistic. Investments must be considered in the short, medium, and long term, because they are not things that yield quick results. Yes, there is potential in Syria, but we must realize that this potential takes time."
Olbak pointed to the importance of securing transportation and logistics services to enable trade and investment, saying, "In this context, we met with Syrian Minister of Transport Ya'rab Suleiman Badr. The issue includes land, sea, and air routes, and we discussed with the minister what can be done in this regard."
He pointed out that there is "surplus capacity in Türkiye," such as the textile sector, explaining that they discussed with Syrian officials opportunities to transfer this capacity to Syria.
Olbak stressed the need for a banking system, financial transfers, and clear legal rules to regulate trade in Syria.
He pointed out that the Turkish delegation, headed by Bulat, discussed these matters with Syrian Finance Minister Mohammad Yasir Barniyeh. He said, "We expressed (to the Syrian Finance Minister) our expectation regarding the issuance of two laws: an agreement to encourage and protect investments, and the second, an agreement to avoid double taxation."
Turkish-Syrian Business Council
Olbak also touched on the nature of the work of the Foreign Economic Relations Board, stating that they had informed Damascus of the need to identify the Syrian side of the "Turkish-Syrian Business Council."
He pointed out that some issues can be quickly advanced, saying, "We can move trade very quickly, but we must realize that investments take time."
He said, "We can quickly tap into some existing but currently inactive investments, or replicate models from Turkey and apply them in Syria. Investments that will be established from scratch, however, require numerous conditions."
Earlier, Turkish Trade Minister Omer Bolat stated that Ankara and Damascus would form a strong economic alliance similar to the model of the United States, Canada, and Mexico, and the European Union.