Tuesday, August 2, 2011
ISTANBUL - Hürriyet Daily News
Growing turmoil and violence in Syria have the European Union rolling up its sleeves to play a more active role in solving the problem by imposing asset freezes and travel bans. But economic sanctions by countries including Turkey might leave its business interests in the Arab republic in a tight spot
 In this file photo Turkish truck drivers sit on the side of the road while waiting to cross the Cilvegözü border to Syria. |
The prospect of more economic sanctions against increasingly strife-torn Syria have Turkish businessmen worried, leading business figures told the Hürriyet Daily News on Tuesday.
Growing turmoil and violence in Syria have the European Union rolling up its sleeves to play a more active role in solving the problem by imposing asset freezes and travel bans. But economic sanctions by countries including Turkey might leave its business interests in a tight spot.
“Sanctions imposed previously on other countries have not brought many sustainable solutions to problems,” Rona Yırcalı, the board chairman of the Foreign Economic Relations Board, or DEİK, told the Daily News in a phone interview Tuesday, though he noted that there was not yet much information available about the content of possible sanctions.
British Foreign Secretary William Hague is among the top European figures calling for tougher sanctions against Syrian President Bashar al-Assad’s government. “The sanctions have to come from both Western nations, Arab countries and regional powers like Turkey,” Hague said in an interview Monday, according to the Associated Press. “The sanctions decision could not be made and applied by only Turkey. If the UN decides to apply sanctions, it is a different thing,” Tolga Uçak, the head of the Turkish Foreign Ministry’s information department told the Daily News on Tuesday. “It is not that easy to unite Arab nations to impose international sanctions against Syria,”
Rızanur Meral, the chairman of Confederation of Businessmen and Industrialists of Turkey, or TUSKON, told the Daily News. “Arab countries would know that a similar sanction might be imposed on their countries in the future.” According to Meral, the imposition of international sanctions against Syria does not seem possible at this time.
It would be “impossible for Turkey to step back from humanitarian help and sending food and medicine” to Syria, Meral said, adding that other trade items might be discussed according to the context of the sanctions. “It would be hard to control the borders for illegal trade,” he added, noting that Turkey shares its longest border with Syria.
Syrian money rushing to Turkey’s safe harbor
Many Syrians are in a rush to bring their investments into Turkey as the country serves as the closest safe harbor for Syrians worried about the instability in their country, Özkan Tütüncü, the secretary-general of the Chamber of Jewelers in the southern Turkish province of Hatay, told the Daily News.
“There is a trend in opening bank accounts at Turkish banks,” he said, noting that the transactions are done with the help of Syrian relatives who are Turkish citizens and living in Hatay. “It is known in the city that Syrians have started to open high-volume deposit accounts in last few months due to the Syrian turmoil,” Tütüncü said.
He added that the trend seems to be continuing as the investment climate in the neighboring country has almost disappeared. Turkey’s official figures confirm Tütüncü’s claims.
The total volume of the deposit accounts at banks in Hatay reached $5.84 million by the end of March this year, jumping from $4.38 million in March 2010 according to the Banking Regulation and Supervision Agency, or BBDK. In last 12 months, the total amount in deposit accounts at Turkish banks in Hatay has reached nearly $1.46 billion, according to the agency. Foreign exchange deposits rose by 48 percent, to $1.93 million, by the end of March 2011 from $1.30 million in the same month of last year.
Growing turmoil and violence in Syria have the European Union rolling up its sleeves to play a more active role in solving the problem by imposing asset freezes and travel bans. But economic sanctions by countries including Turkey might leave its business interests in a tight spot.
“Sanctions imposed previously on other countries have not brought many sustainable solutions to problems,” Rona Yırcalı, the board chairman of the Foreign Economic Relations Board, or DEİK, told the Daily News in a phone interview Tuesday, though he noted that there was not yet much information available about the content of possible sanctions.
British Foreign Secretary William Hague is among the top European figures calling for tougher sanctions against Syrian President Bashar al-Assad’s government. “The sanctions have to come from both Western nations, Arab countries and regional powers like Turkey,” Hague said in an interview Monday, according to the Associated Press. “The sanctions decision could not be made and applied by only Turkey. If the UN decides to apply sanctions, it is a different thing,” Tolga Uçak, the head of the Turkish Foreign Ministry’s information department told the Daily News on Tuesday. “It is not that easy to unite Arab nations to impose international sanctions against Syria,”
Rızanur Meral, the chairman of Confederation of Businessmen and Industrialists of Turkey, or TUSKON, told the Daily News. “Arab countries would know that a similar sanction might be imposed on their countries in the future.” According to Meral, the imposition of international sanctions against Syria does not seem possible at this time.
It would be “impossible for Turkey to step back from humanitarian help and sending food and medicine” to Syria, Meral said, adding that other trade items might be discussed according to the context of the sanctions. “It would be hard to control the borders for illegal trade,” he added, noting that Turkey shares its longest border with Syria.
Syrian money rushing to Turkey’s safe harbor
Many Syrians are in a rush to bring their investments into Turkey as the country serves as the closest safe harbor for Syrians worried about the instability in their country, Özkan Tütüncü, the secretary-general of the Chamber of Jewelers in the southern Turkish province of Hatay, told the Daily News.
“There is a trend in opening bank accounts at Turkish banks,” he said, noting that the transactions are done with the help of Syrian relatives who are Turkish citizens and living in Hatay. “It is known in the city that Syrians have started to open high-volume deposit accounts in last few months due to the Syrian turmoil,” Tütüncü said.
He added that the trend seems to be continuing as the investment climate in the neighboring country has almost disappeared. Turkey’s official figures confirm Tütüncü’s claims.
The total volume of the deposit accounts at banks in Hatay reached $5.84 million by the end of March this year, jumping from $4.38 million in March 2010 according to the Banking Regulation and Supervision Agency, or BBDK. In last 12 months, the total amount in deposit accounts at Turkish banks in Hatay has reached nearly $1.46 billion, according to the agency. Foreign exchange deposits rose by 48 percent, to $1.93 million, by the end of March 2011 from $1.30 million in the same month of last year.
Hiç yorum yok:
Yorum Gönder