Turkey’s Silent Trade War with Israel: What You Need to Know

Turkey has made the decision to halt trade with Israel without making an official announcement, according to reports from Globes and Bloomberg news agency. This immediate decision has had a significant impact on the ground, as goods are not being loaded onto ships bound for Israeli ports, and ships already in Turkish ports are unable to unload their cargo. Over the past year, the trade relationship between Turkey and Israel has seen a decrease in imports, with the majority of trade consisting of imports from Turkey.

The import mix includes metals, machinery, plastics, and other products, while the export mix includes chemical products, metals, and machinery. Turkey is a significant source of imports for Israel, particularly in sectors like cement, plastics, and textiles. The recent decision to halt trade with Israel is seen as a response to political developments in Turkey, including recent elections.

Foreign Minister Israel Katz criticized Turkish President Recep Tayyip Erdogan for the trade restrictions, calling for immediate discussions to find alternative trade options. Business associations in Israel expressed disappointment over the decision, emphasizing the need for economic relations to remain separate from political issues. Manufacturers in Israel have been warned about the potential impact on their industries, with calls for protective tariffs and a focus on local production to reduce dependence on Turkish imports.

The process of routing goods through other countries to bypass the trade restrictions has begun, with shipments being sent to ports in Slovenia before reaching Israel. This detour may increase shipping costs and complexity but is seen as a temporary solution to maintain trade flows. The political context in Turkey suggests a shift in trade relations with Israel. As such, Israel is now exploring options to navigate this changing landscape and ensure continued economic stability.

Israel has been hit hard by this sudden halt in trade with Turkey without any official announcement or explanation from Ankara’s side. Foreign Minister Katz expressed his dissatisfaction with Erdogan’s actions stating that he “regrets” them adding that he will seek out alternative ways of doing business.

Business associations have expressed their disappointment over this move stating that it will negatively affect both economies involved. They emphasized that economic relations should remain separate from political issues.

Turkey’s recent election results have led many experts believe that there may be changes coming regarding its foreign policy decisions including its stance towards neighboring countries such as Syria and Iraq.

Israeli manufacturers are now calling for protective tariffs on Turkish imports while local production is encouraged as they try to reduce their dependence on these goods.

In conclusion it seems clear that there may be major changes coming regarding Turkey’s foreign policy decisions which could have significant implications for both countries involved.