Turkey announced a complete cessation of trade with Israel, attributing the decision to the ongoing ‘humanitarian tragedy’ within Gaza. The Turkish trade ministry issued a statement late Thursday declaring an indefinite halt to all import and export activities related to Israel, encompassing a broad range of products and sectors. This drastic measure follows initial restrictions introduced in April when Turkey stopped exporting iron, steel, and construction equipment to Israel.
“Turkey will strictly and decisively implement these new measures until the Israeli government allows an uninterrupted and sufficient flow of humanitarian aid to Gaza,” the ministry articulated. This development escalates the already tense diplomatic relations between the two nations, which have been deteriorating rapidly since the latest Gaza crisis erupted.
Israeli Foreign Minister Israel Katz sharply criticized Turkey’s President Recep Tayyip Erdoğan, accusing him of authoritarian behavior. Katz decried the trade suspension as a breach of international trade norms and detrimental to the economic interests of Turkish citizens and businesses alike. “Erdoğan’s actions mirror those typical of a dictator, disregarding not only the well-being of Turkish people and entrepreneurs but also international trade protocols,” Katz stated.
The discord is likely to exacerbate the existing strain between Turkey and Israel, previously close allies. The fissure widened following the events of October 7, when Hamas militants killed approximately 1,136 Israelis and abducted around 250 individuals. Israel retaliated by deploying troops into Gaza and launching airstrikes that have reportedly claimed over 34,000 lives, based on figures from Gaza’s Hamas-run health ministry.
In 2023, the bilateral trade volume between Turkey and Israel stood at $6.8 billion, illustrating the significant economic stakes involved. Katz stressed that Israel would seek alternatives to the now-severed trade ties by enhancing local production and diversifying imports from other nations.
Compounding these tensions, Katz last month voiced objections to Erdoğan’s openly held discussions in Istanbul with Ismail Haniyeh, leader of Hamas’s politburo. These developments reflect the deteriorating diplomatic relations between Turkey and Israel, each navigating a complex and volatile geopolitical environment.
IMEX SECTOR | UKEF’s New Plan Aims to Secure £12.5B for UK Exporters by 2029
