Turkish-Israeli Economic Ties Unbroken
The Justice and Development Party (AKP) announced that economic relations were going to be continued after the government had introduced sanctions against Israel last Friday (2 September). Diplomatic relations were reduced to a minimum by Turkey after the UN report on the Mavi Marmara raid had leaked to the media and Israel had refused to apologize.
As reported by the Etkin News Agency (ETHA), the Minister of Economic Affairs, Zafer Çağlayan, said that there was no decision for any sanctions between Turkey and Israel on the field of economy. He announced that normal work would continue via normal channels.
"Trade with Palestine has to be considered as well"
Minister Çağlayan spoke by invitation of a delegation from the Turkish-German Chamber of Commerce and Industry when he was asked by a journalist whether Turkey would take a veto decision. Çağlayan was also asked about the statement made by the President of the Israel Central Bank. The Minister replied that Turkey was not going to apply any economic sanctions to Israel.
Çağlayan drew attention to exports to Palestine that generally pass through Israel and said that this had to be considered as well in the evaluation of trade between Turkey and Israel. He noted that Israel was Turkey's 17th biggest market and Turkey on the other had was Israel's 6th largest market.
"Our export to Israel amounted to about $ 1.5 billion as of the period between January and July in particular. Imports from Israel during the same period of time summed up to $ 1.2 billion. Both countries have been good business partners. However, if there is any work our government will do on this topic after having reached the latest point, these issues will be reviewed. I just want to say that there is nothing like that right now", Çağlayan declared. (EKN/VK)