Why Turkey won’t be able to walk back from ban on Israel trade

Al-Monitor Pro Members

David Rosenberg

Israeli reporter specializing in business, economics and politics

June 12, 2024

Israeli-Turkish trade relations have suffered what is likely to be an irreversible setback after Ankara announced in early May that it was suspending all trade with Israel pending an end to the war in Gaza. Despite severe diplomatic strains, bilateral trade had grown quickly over the past 15 years. Turkey became an important supplier for Israel for key goods, and a persistent bilateral trade surplus provided Turkey with foreign currency earnings. While Turkish President Recep Tayyip Erdogan said the ban is temporary, it is unlikely that trade ties will return to previous levels for the foreseeable future. Diplomatic relations are destined to remain tense, and Israel now regards Turkey as an unreliable commercial partner.