Israel has been hit with a surprise move from Turkey, as the country has halted trade without making an official announcement, according to reports from Globes and Bloomberg news agency. This decision has immediately affected the ground, with goods not being loaded onto ships bound for Israeli ports and ships already in Turkish ports unable to unload their cargo. The trade relationship between Turkey and Israel has seen a decrease in imports over the past year, 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