An Assessment Of Syrian Economy For Accession To WTO

Syria is a low middle income country and its economy based on a diversified economy that revolves around agriculture, oil, industry and tourism. Recently, Syria's economy is seen emerging from central planning towards a true market economy and reducing dependence on oil.Liberalization has allowed for new products and the private sector seems more able to effectively utilize Syria's competitive advantages. As part of the on-going process of economic reforms, Syria has given increasing emphasis to fostering the integration of its economy at regional and international level. As a result, a number of bilateral trade agreements have been signed, the Arab Free Trade Agreement is currently being implemented, and the negotiation of an Association Agreement with the European Union has been concluded. Moreover, Syria applied in2001for membership to the World Trade Organization. This application was formally "reaffirmed" in February,2004. In May2010Syria gained observer status in World Trade Organization (WTO) as an initial step to get the full membership.This dissertation demonstrates the current situation of Syrian economy where real GDP growth was at5%in2009from close to5.1%in2008. Also I try to make analysis of Syria's external trade. In addition to show some lesson for Syria from other WTO acceding countries regarding the agriculture sector which are (Jordan and China).Finally I made a SWOT analysis of the Syrian agriculture sector in case of joining WTO. In general its early for Syria to join WTO because trade laws and economic structure need more time to be Compatible with WTO in addition to that Syrian local industry is still not strong enough to face strong competition by Middle East competitors who may gain share in the Syrian market. So it is better for Syria to concentrate on the current treaty arrangements and trade agreements like GAFTA (Grater Arab Free Trade Area) before going to that big step.