SYRIA CRISIS HITS TOBACCO TRADE – LOCAL COMPANY BENEFITS, BUT FOR HOW LONG?
May 1st, 2012
BY PAUL COCHRANE, IN BEIRUT
Syria's long uprising and associated sanctions has removed some competition for national tobacco company GOT. But a collapse in the Syrian pound has made inputs more expensive. And now GOT is facing an asset freeze in Europe as sanctions tighten.
THE 15 month-long uprising in Syria and the international sanctions that have followed have ironically been a boon to the Syrian tobacco sector, whose turnover is projected to double in value this year to Euro EUR656.3 million. With its international competitors forbidden to sell into Syria, ...
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