Turkey has suspended all trade with Israel, citing its concerns over the horrifying humanitarian situation in the Palestinian territories. The Turkish trade ministry announced May 2 that all “export and import transactions related to Israel have been stopped, covering all products.”
This move comes in response to what Turkey perceives as Israel's failure to ensure an uninterrupted and sufficient flow of humanitarian aid to Gaza.
The decision is likely to escalate tensions between the two countries, which have been strained since the onset of the crisis in Gaza. Israel's foreign minister, Israel Katz, criticized Turkish President Recep Tayyip Erdoğan, accusing him of dictatorial behavior for imposing trade restrictions. Katz stated that Erdogan's actions disregarded the interests of both Turkish citizens and businesses and violated international trade agreements.
Turkey had previously imposed trade restrictions on Israel in April, halting the export of iron and steel products and construction equipment. The bilateral trade volume between the two countries amounted to $6.8 billion in 2023.
In response to Turkey's latest move, Israel's foreign ministry is exploring alternatives to mitigate the impact of the trade suspension. This includes focusing on local production and seeking imports from other countries to replace any lost products.