BREAKING NEWS

Turkey says Syria to lose $100m. in transport revenue

By REUTERS

DECEMBER 16, 2011 15:16

ANKARA - Turkey said on Friday that Syria will lose more than $100 million a year in transport revenues as Ankara bypasses the turbulent country by opening alternative routes to export goods to the Middle East and Gulf.

Turkey has been seeking new trade routes to the Middle East since relations with neighbor Syria broke down following Ankara's increased criticism of President Bashar Assad over his crackdown on an uprising that began in March.

The Turkish Economy Ministry said in a statement it had finalized talks to start exporting goods to Egypt via sea in January and from there overland to Gulf countries to avoid Syria.

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