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(Bloomberg) Firat Kozok - Turkey confirmed that it had paused all trade with Israel on Thursday, saying it was due to the "humanitarian tragedy" in Gaza. "Export and import transactions related to Israel have been suspended to cover all products," the Trade Ministry said. Israel's imports from Turkey totaled $4.6 billion in 2023 and included steel, machinery, minerals and fuels as well as fresh produce and food products. The move came a day after Turkey announced plans to join South Africa's case at the UN's highest court as a plaintiff accusing Israel of committing genocide in Gaza. Erdogan called Hamas militants "freedom fighters" and hosted Hamas' political leader in Istanbul on April 20. Israel's Foreign Minister Israel Katz responded on X, "This is the behavior of a dictator who tramples the interests of the Turkish people and business community, while ignoring international trade agreements." The Israeli government will work to create immediate alternatives by increasing local manufacturing and finding other suppliers, he said. 2024-05-05 00:00:00Full Article
Turkey Halts All Trade with Israel over War in Gaza
(Bloomberg) Firat Kozok - Turkey confirmed that it had paused all trade with Israel on Thursday, saying it was due to the "humanitarian tragedy" in Gaza. "Export and import transactions related to Israel have been suspended to cover all products," the Trade Ministry said. Israel's imports from Turkey totaled $4.6 billion in 2023 and included steel, machinery, minerals and fuels as well as fresh produce and food products. The move came a day after Turkey announced plans to join South Africa's case at the UN's highest court as a plaintiff accusing Israel of committing genocide in Gaza. Erdogan called Hamas militants "freedom fighters" and hosted Hamas' political leader in Istanbul on April 20. Israel's Foreign Minister Israel Katz responded on X, "This is the behavior of a dictator who tramples the interests of the Turkish people and business community, while ignoring international trade agreements." The Israeli government will work to create immediate alternatives by increasing local manufacturing and finding other suppliers, he said. 2024-05-05 00:00:00Full Article
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