On Thursday, Turkey reportedly made the decision to halt all trade with Israel as a form of protest against the ongoing conflict in Gaza. While the Turkish government, led by President Recep Tayyip Erdogan, has not officially confirmed this action, it has sparked reactions from Israeli officials who are concerned about the potential impact.
In 2023, Israel and Turkey engaged in trade amounting to $6.8 billion, with the majority of goods being Turkish exports, as reported by Bloomberg News. Israeli Foreign Minister Israel Katz criticized Erdogan's actions, accusing him of violating agreements by blocking Israeli imports and exports through ports. Katz described this move as dictatorial and harmful to both the Turkish people and business community, while also disregarding international trade agreements.
As of now, Turkey has not specified the conditions under which trade relations with Israel could be restored. In response to the situation, Katz has directed the Israeli Foreign Ministry to explore alternative trade options, focusing on local production and imports from other countries, with the aim of strengthening Israel's economy.
This recent development builds upon previous trade restrictions that Turkey had imposed on Israel last month. The strained economic relations between the two countries are part of a broader conflict, with Turkey also aligning itself against Israel on the international stage. Erdogan's government has joined South Africa in accusing Israel of genocide in Gaza through a United Nations court case.
These escalating tensions between Israel and Turkey coincide with Israel facing threats of potential conflicts with neighboring countries, particularly Iran and its allies in Lebanon and Yemen. The situation continues to evolve as both nations navigate the complexities of their diplomatic and economic relations amidst the backdrop of the Gaza war.
