According to sources from Bloomberg, Turkey has put an end to all trade activities with Israel. The news was reported by two Turkish officials who preferred to remain anonymous, stating that all exports and imports between the two countries have been halted since Thursday. Despite no official announcement from Turkey, it is worth noting that the value of trade between the two countries was recorded at 6.8 billion dollars in 2023, with Turkish exports accounting for approximately 5.4 billion dollars.
The suspension of trade began in early April due to the ongoing conflict in Gaza. The Ministry of Trade had banned the export of certain materials to Israel, leading to Israel’s Foreign Minister, Israel Katz, criticizing Turkish President Recep Tayyip Erdoğan for violating trade agreements by blocking exports and imports. This action has only added fuel to the already strained relationship between Turkey and Israel, which has seen diplomatic tensions in recent years.
In 2018, Turkey recalled its diplomats from Israel and expelled Israel’s ambassador before normalizing relations in 2022. However, last October, Israel withdrew its diplomats from Turkey after President Erdoğan accused Israel of acting like a war criminal during a press conference in Ankara. The ongoing trade suspension only complicates the already tense relationship between the two countries further.
Turkey’s decision to halt all trade activities with Israel is likely due to its ongoing concerns over Israeli actions in Gaza and other issues related to Palestine. This move may also be a way for Turkey to assert its dominance as a major player in regional politics and economics.
Despite this development, both countries have expressed their commitment to resolving their differences through peaceful means. It remains to be seen how long this suspension will last or whether it will ultimately lead to a breakdown in relations.
Overall, this news highlights how complex and sensitive political relationships can be when it comes to trade agreements and geopolitical issues. As such, it serves as a reminder that businesses must always carefully consider their actions when engaging with foreign partners or markets.
