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As relations normalize, Israel reopens its economy office in turkey

by John Pierce
July 3, 2023
in Business
2 min read
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Israel will reopen its economy and trade office in Turkey for her economy minister Tuesday said, as countries work To restore strained diplomatic relations for more of holding.

‘Reopening of The economic annex reflects Israel’s commitment to deepening economic relations with Turkey, Economy Minister Orna Barbivai said.

“We intend to soon Promote a joint economic conference between countriesafter, after more of holding.”

The move will help more More than 1500 Israeli companies currently The ministry said that the export to Turkey.

Turkey and Israel have recently been trying to convert a file new The page marked as visited of Israeli President Yitzhak Herzog and his meeting with President Recep Tayyip Erdogan in Ankara in Walk.

The countries withdraw their ambassadors in 2010 after Israeli forces stormed a naval convoy heading to Gaza carrying humanitarian aid for The Palestinians who broke the Israeli siege. resulting from the accident in death of Nine Turkish activists.

Relationships broke down again in 2018 when Turkey got angry with the United States moving its embassy in Israel to Jerusalem once more It recalled its ambassador, prompting Israel to respond in Good heart.

the two countries I started work on Turkish Foreign Minister Mevlüt Çavuşoğlu said that their mutual diplomatic representation has been restored to the level of ambassadors. last Month.

over the years of tensions countries keep trade Links and Turkey remains one of Israel’s most important partner.

Their merchandise exchange was on the rise over The past five years, with turnover multiplication rate record $8.4 billion last yearto me official data, up From $6.2 billion in 2020.

Exports to Israel jumped more from 35% year-over-year to $6.4 billion last year, the highest level ever. Imports jumped about 37% to $2.1 billion.

Erdogan said that both sides hope trade This will reach $10 billion year.

Israel is among countries Turkey records trade surplus with It was its ninth largest export market.

Turkey’s exports to Israel jumped more From a third to $1.8 billion from January to March this year yearThe best first quarter Until now official data showed.

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