Live Markets, Charts & Financial News

Turkey bans exports of all goods to Israeli ports

0 7

Although no official statement was issued, Turkish ports have already begun to respond to instructions prohibiting the export of goods to the ports of Haifa and Ashdod in Israel, sources familiar with the matter told Globes. Meanwhile, Israeli goods arriving at Turkish ports are not allowed to unload their cargo.

As Globes revealed on April 1, Turkey has unofficially begun restricting the export of goods to Israel. Agents working with Israeli importers told them that the source of the delay was the government. The ability of customs officials to impose export duties on shipments from Türkiye to Israel has also been restricted. The Turkish computerized system displayed a message saying: “Error, the declaration can only proceed for exports to Israel.”







A week later, the Turkish Ministry of Trade issued an official announcement banning the export of 54 products to Israel, most of which were construction industry inputs. Notable products included marble, cement, steel and aluminum.

In March, Turkish exports to Israel totaled $437 million, a record high since the beginning of the war, while Turkey imported goods worth $167 million from Israel, according to the Turkish Statistics Office.

It appears that the historic defeat suffered by President Recep Tayyip Erdogan's Justice and Development Party in the local elections at the end of March led to a state of panic and decision-making in line with the anti-Israel demands of its voter base.

About a week and a half ago, Erdogan held a joint press conference with his German President, Frank-Walter Steinmeier, in which he said: “We no longer maintain close trade relations with Israel. The matter is over.” It is possible that Erdogan means what he says. Businessmen in Türkiye do not remember such a crisis even at the height of the Marmara flotilla crisis to Gaza in 2010.

Published by Globes, Israel Business News – en.globes.co.il – on May 2, 2024.

© Copyright Globes Publisher Itonut (1983) Ltd., 2024.


Leave A Reply

Your email address will not be published.