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Vasilief, A History of the Byzantine Empire

Justinian the Great and his successors (518-610)

Commerce during the reign of Justinian 

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Page 5

Protection of Byzantine commerce. Justinian made it his aim to free Byzantine commerce of its dependence on Persia. This involved establishing direct communication with India by way of the Red Sea. The northeastern corner of the Red Sea (in the Gulf of Akaba) was occupied by the Byzantine port, Ayla, whence Indian wares could be transported by a land route through Palestine and Syria to the Mediterranean Sea. Another port, Clysma (near present-day Suez), was situated on the northwestern shore of the Red Sea, and from it was directly connected with the Mediterranean Sea. On one of the islands at the entrance to the Gulf of Akaba, Iotabe (now Tiran), near the southern extremity of the Sinai peninsula, a customhouse for bygoing vessels was established during Justinian's reign. But the number of Byzantine ships in the Red Sea was not sufficient for carrying on a regulated commerce. This fact forced Justinian to establish close relations with the Christian Abyssinians in the Kingdom of Axum, urging them to buy silk in India and then resell it to the Byzantine Empire. He apparently wanted them to play the part of trade mediators between the Byzantine Empire and India, as the Persians had done up to that time. But these attempts on the part of the Emperor were not successful, for the Abyssinian merchants could not compete with Persian influence in India and the monopoly of silk buying still remained in the hands of Persian merchants. In the end Justinian did not succeed in opening up new routes for direct trade with the East. In intervals of peace the Persians still remained the mediators in the most important trade, and continued to make large profits.

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Reference address : https://www.ellopos.net/elpenor/vasilief/commerce-justinian.asp?pg=5