Trade Restrictions from Turkey to Israel: New Measures and Detailed Economic Impacts
A detailed analysis of Turkey-Israel trade relations and the new trade restrictions against Israel that started with the statements of Foreign Minister Hakan Fidan. Air aid to Gaza, local elections and the effects of public pressure are discussed.
In a last-minute announcement by Foreign Minister Hakan Fidan, Turkey announced new economic measures against Israel. This decision comes after Ankara’s planned airlifts to Gaza were blocked. The announcement takes the trade dynamics with Israel and relations between the two countries to a new dimension.
New Measures and Trade Restrictions
Turkey reacted to Israel by imposing export restrictions on 54 product groups. These restrictions will be determined by the Ministry of Trade and will be in place until a ceasefire is declared. The introduction of export restrictions is seen as a result of the political atmosphere and public pressure in Turkey. The new policies are also gaining support among the public, as seen in the march in support of Palestine on Istiklal Street, which was intervened by the police.
Public Pressure and Local Elections
The Foreign Minister’s statements and the Trade Ministry’s actions have also attracted the attention of political groups such as the Prosperity Party. The fact that the YRP based its local election campaigns on a reaction against Israel, which increased the party’s vote share, reveals the extent of the negative public pressure against Israel.
Economic Impacts and TurkStat Data
According to the Turkish Statistical Institute (TurkStat), Turkey’s exports to Israel fell from 942 million 820 thousand dollars to 771 million 739 thousand dollars in the first two months of 2023. This decline signals the economic impact of the new restrictions and the change in the volume of trade between the two countries.
The codes for trade with Israel and Palestine differ; Israel is separated by code 624 and Palestine by code 625. This distinction allows for an accurate analysis of exports to the two regions. In 2023, arms and ammunition exports to Israel amounted to approximately 1 billion dollars, while purchases amounted to 87 million dollars.
Conclusion and Future Projections
Turkey’s new trade measures against Israel are further straining relations between the two countries. These changes, especially in critical areas such as arms and ammunition trade, may affect regional political dynamics. Turkey’s steps are seen as a harbinger of new strategies in both domestic and foreign policy. In the coming period, the economic and political consequences of these measures will be closely monitored by both countries.
