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Türkiye halts all trade with Israel amid rising tensions

Türkiye halts all trade with Israel amid rising tensions
By Yagiz Efe Parmaksiz
May 2, 2024 6:44 PM

Türkiye halts all trade activities with Israel as the decision, confirmed by two Turkish officials, comes after prior restrictions on exports to Israel

Türkiye has ceased all trade activities with Israel as tensions mount in the region, Bloomberg reported, citing two Turkish officials on Thursday.

The decision, although not formally declared by Türkiye, marks a significant halt in bilateral trade between the two countries.

According to data from the Turkish Statistical Institute, trade between Türkiye and Israel in 2023 amounted to $6.8 billion, with Turkish exports constituting 76% of the total trade volume.

However, with this recent halt in exports and imports, this economic exchange is now at a standstill.

The move comes in the wake of Türkiye’s prior restrictions on exports to Israel, imposed last month amid heightened tensions surrounding the ongoing conflict in Gaza.

The decision underscores Türkiye’s firm stance on regional issues and reflects the broader geopolitical dynamics in the Middle East.

While Türkiye has yet to justify the trade halt formally, the decision will likely have far-reaching implications for both countries’ economies and diplomatic relations.

As the situation unfolds, observers are keenly watching for any further developments or official statements from the Turkish government regarding this decision.

Source: Newsroom

Last Updated:  Jun 5, 2024 9:43 PM
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