Following Trade Suspension, Israel Announces Countermeasures Against Turkey

The Israeli Ministry of Foreign Affairs has announced additional actions against Turkey in response to the latter’s decision to suspend all trade with Israel due to non-stop violence against Palestinians in the Gaza Strip.

In a statement, the Ministry stated that in a discussion carried out by senior officials from the Foreign and Economy ministries, as well as the Israel Tax Authority, it was decided to work towards reducing any economic connection between Turkey and the West Bank and Gaza.

Furthermore, it was decided to take action in international economic forums to examine sanctions against Turkey for violating trade agreements, to create an alternative list for the Israeli economy across numerous sectors and products, and to assist affected Israeli export sectors.

It stated that Turkey is the Palestinian Authority’s largest importer.

According to Israel’s Central Bureau of Statistics, Israeli exports to Turkey amounted to $1.57 billion in 2023, with Israeli imports totaling $4.61 billion.

“Meanwhile, Israel has filed a complaint with the Organisation for Economic Cooperation and Development (OECD) against Turkey over its decision to restrict trade”, said Nir Barkat, Israel’s Economy Minister.

Both Turkey and Israel are OECD members.

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