Turkey has suspended its trade relations with Israel due to the humanitarian situation, which has deteriorated in the Palestinian territories, which could cause significant economic losses for Israel, estimated at around 5 billion dollars per year.
Yesterday, Thursday, May 2, Turkey announced the suspension of all its trade relations with Israel in response to the deterioration of the humanitarian situation in the Palestinian territories. This decision could have serious consequences on industry and trade in Israel, Turkey is currently one of its main business partners.
The Turkish trade ministry said that Turkey had ceased all its trade with the Hebrew State, invoking the “human tragedy” which worsens in the Palestinian territories. Ankara clarified that it would strictly apply these new measures until the Israeli government allows a continuous flow of humanitarian aid to Gaza.
According to Israeli media sources, these new measures seem to be strictly applied. The Turkish ports have already started to follow a directive prohibiting exports of goods to the Israeli ports of Haifa and Ashdod. In addition, Israeli goods arriving in Turkish ports are no longer allowed to unload their cargoes.
According to the same sources, specialists believe that the total trade stop between Israel and Turkey could cause significant damage to industry and trade in Israel, because the volume of imports of raw materials and goods from Turkey amounts to around 5 billion dollars per year, against 1.5 billion dollars from Israel to Turkey.
Turkey has suspended its exports of construction materials, minerals, machines, cars, energy products, rubber, plastic, sanitary and agricultural products.
Recall that in 1949, Turkey was the first Muslim majority country to establish diplomatic relations with Israel, but these links have deteriorated over the decades. In 2010, relations were broken after a Turkish ship, transporting pro-Palestinian activists, was involved in a fatal confrontation with Israeli forces during an attempt to break the Gaza blockade.
Although relations were restored in 2016, tensions remain and led to a mutual expulsion of diplomats in 2018 after violence on the border between Gaza and Israel.
