A trade agreement between the two countries in March 1996 increased the amount of traded goods and services between the two countries. Despite the fact that this agreement came into implementation in 2004, the two countries have enjoyed much benefits from each other. Preferential trade status between the two countries has been established through this agreement with both experiencing an increase in trade levels.
Trade between the two reached $200 million in 2007 and is expected to rise in the coming years (Byman, 2006). However, this increase has been seen as one-sided with Iran pocketing $180 million as Syria only settling for a paltry $20 million. Talking of threats to this alliance, this discrepancy is a potential candidate as comparing this to other trade partners, Syria benefit more. For instance, Syria received $1.6 billion worth of foreign exchange from turkey in the year 2007. This suggest that trade between the two countries is not favorable, a fact that Tehran admits. Therefore, persistence of such trade conditions are a real threat to this alliance as external forces are likely to influence Syria to adjust its foreign policies.
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