Turkey blocking exports to Israel

Shipping in Turkish territorial waters credit: Reuters Diego Cupolo
Shipping in Turkish territorial waters credit: Reuters Diego Cupolo

Over the past five days, Turkey's government has either been delaying or not approving export consignments from Turkey to Israel.

Turkey's government is either delaying or not approving export consignments from Turkey to Israel, over the past five days, a source familiar with the matter has informed "Globes." Agencies working with Israeli importers says that the source of the delays is the Turkish government and it is unclear for how long the current situation will continue.

At the same time, "Globes" has been told that since last Friday, it has not been possible to pay export duties for consignments from Turkey to Israel with the Turkish website saying error with no option for proceeding and only for exports to Israel.

Shipping lines operating on Turkey-Israel routes, which have remained very active despite the war, have now been delaying departure of ships in the hope that the situation can still be resolved and commodities will be able to leave the country. "Globes" understands that Israel's Ministry of Foreign Affairs has already been informed about the situation and is checking out and dealing with the matter.

Though this is not an official sanction, there have been signs of severe measures by Turkish President Recep Tayyip Erdogan regarding trade between the countries. Last January, Turkey decided to remove Israel from its list of export destination countries, effectively stopping encouraging and subsidizing trade and support for businesses that operate with Israel. In addition, this sent a message to Turkish business owners, that if they get involved in trade with Israel, the state will not help them. The Turkish Ministry of Commerce has also topped supporting joint conferences with Israel. This is a step that destroys the ability of the Turkish trade attache in Israel to encourage contacts between the countries.

A decline in Turkish imports to Israel

In 2023 Israel imported $5.42 billion in goods from Turkey, down from $7 billion in 2022, the Central Bureau of Statistics reports. Israeli exports to Turkey amounted to $1.5 billion in 2023, down from $2.5 billion in 2022.

Published by Globes, Israel business news - en.globes.co.il - on April 2, 2024.

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

Shipping in Turkish territorial waters credit: Reuters Diego Cupolo
Shipping in Turkish territorial waters credit: Reuters Diego Cupolo
Fencing goes up Petah Tikva's Segula neighborhood  credit: NTA The Metro is really happening

Although there are skeptics who doubt that the project will ever be realized, there are now enough signs on the ground to indicate that they are probably wrong.

Ben Gurion airport Terminal 1 credit: Shutterstock Ben Gurion airport's Terminal 1 reopens

Terminal 1 at Ben Gurion airport reopened yesterday to domestic flights, while international flights will start using the terminal from Sunday, March 30.

Minister of Interior Moshe Arbel credit: Cadya Levy Interior Minister: There is no deep state in Israel

Minister of Interior Moshe Arbel told the Globes Services conference that civil servants are dedicated employees who serve the public.

Minimum wage credit: Tali Bogdanovsky Minimum wage in Israel to rise next week

The monthly minimum wage in Israel will be revised upwards by 6%.

Bank of Israel  credit: Shutterstock/Alon Adika Bank of Israel slams gov't fiscal policy

Governor Prof. Amir Yaron wrote in the annual report that the government's measures are not enough to ensure a sustained decline in debt-to-GDP ratio.

Minister of Justice Yariv Levin credit: Noam Moskovitz Knesset Spokesperson Knesset passes Judicial Selection Law

The new law makes judicial appointments subject to political control.

Airbnb credit: Reuters Knesset ignores Airbnb tax evasion loophole

The Israel Hotels Association has slammed the government's indifference to tax evasion by Airbnb landlords, which it insists promotes unfair competition.

GMT CFO Eran Tibon credit: PR Political tensions tempt Israelis to move funds abroad

According to data from advanced financial services company Global Money Transfer, steps taken by the Israeli cabinet to oust Shin Bet chief Ronen Bar, and Attorney General Gali Baharav-Miara, could cause capital to flee Israel.

Sde Dov credit: Guy Yehieli Tenders close for 2,744 more homes in Sde Dov

Four tenders closed last month for the north Tel Aviv district saw a decrease of about 40% in the prices of land, and there is great interest in the prices these latest tenders will fetch.

Rafael CEO Yoav Turgeman credit: Rafael Spokesperson Rafael CEO: Iron Beam will be ready in 2025 as promised

In presenting record financial results for 2024, Yoav Turgeman tells "Globes" that the high energy laser weapon system will be operational this year.

Tel Aviv credit: Shutterstock Rent rises moderate due to emigration and reserve duty

Rents only rose 4% in 2024, the Bank of Israel reports, despite the large number of evacuees, due to the negative migration balance and the large number of young people in the army reserves.

Moody's, Benjamin Netanyahu, Bezalel Smotrich, credit: Shutter stock, Government Spokesperson, Tali Bogdanovsky Moody's: Political risks weigh on Israel's rating

"Israel's sovereign credit profile reflects very high political risks that have weakened economic and fiscal strength."

Stef Wertheimer  credit: Reuters Industrialist and philanthropist Stef Wertheimer dies aged 98

Wertheimer founded Iscar, which was sold to Warren Buffett's Berkshire Hathaway, and was behind many industrial and social initiatives, as well as having a brief political career.

Island founders Dan Amiga and Mike Fey credit: Antonio Delucci Browser security co Island raises $250m at $5b valuation

The company has developed a communications technology that enables fast remote connection to corporate computers.

Yossi and Shlomi Amir  credit: Jonathan Bloom Shufersal doubles annual profit

Streamlining measures by brothers Yossi and Shlomi Amir since they took control have vastly improved the supermarket chains profitability metrics.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018