Today’s news / Turkey halts trade with Israel in support of Gaza

Turkey halts trade with Israel in support of Gaza

Turkey has ceased all export and import trade with Israel, with immediate effect from Thursday, as announced by the Turkish Ministry of Commerce according to Reuters. This decision is a response to the worsening humanitarian tragedy in Gaza. The ministry states that trade, covering all products, will be halted until the Israeli government allows a constant and sufficient flow of humanitarian aid into Gaza. The volume of aid needed for the resumption of trade is unspecified. In 2023, the trade between the two countries was worth $6.8 billion. Last month, Turkey imposed export restrictions on goods typically sold to Israel, following Israel’s refusal to participate in airdropping aid to Gaza. Israel’s Foreign Minister, Israel Katz, accused Turkish President Erdogan of acting like a dictator, contravening the Turkish people’s interests and international trade agreements. Katz also mentioned seeking trade alternatives that focus on local production and other countries.