On Tuesday, amid worsening relations due to the ongoing geopolitical conflict in Gaza, Turkey and Israel each announced trade barriers against the other. Turkey, known for its criticism of Israel's military activities in the region, declared immediate restrictions on the export of 54 product types to Israel. These include aluminium, steel, construction materials, jet fuel, and chemical fertilizers. In retaliation, Israel stated it was in the process of implementing a ban on Turkish products.
As a result, since November, the CEO and Founder of Aluminij, Amir Gross Kabiri, mentioned that aluminium exports to Israel from Bosnia and Herzegovina-based Company have been increasing. This growth, according to Kabiri, is due to Israeli consumers choosing not to import from Turkey during the Israel-Hamas geopolitical crisis, along with the criticisms of Israel that have arisen from it. Over the past four months, Kabiri noted a 30 per cent increase in his factory's aluminium exports to Israel. This surge comes as Turkey announced on Tuesday its decision to impose restrictions on exports to Israel.
About the trade barrier
The trade barriers were made public just a day after Turkish Foreign Minister Hakan Fidan revealed that Israel had prevented Turkish military cargo planes from participating in an operation to airdrop humanitarian assistance to Gaza. Fidan pledged to retaliate against Israel with a series of measures until it agrees to a cease-fire and permits uninterrupted aid flow into the region.
"Reduced bilateral trade will be the result, especially if Israel retaliates with trade restrictions of its own. Turkey's government has likely made the calculation that damaged trade ties are worth it for the potential gain in domestic political support," said Hamish Kinnear, senior Middle East and North Africa analyst at Britain-based risk intelligence company Verisk Maplecroft,
Turkey's President Recep Tayyip Erdogan's government, which faced significant setbacks in local elections, last month, is under intense domestic pressure to cease trade with Israel. Critics accuse the government of employing double standards, strongly condemning Israel while maintaining profitable commercial ties.
2023 Turkish exports to Israel totalled $5.4 billion, as the Turkish Statistical Institute reported. After years of strained relations, Turkey and Israel took steps to normalize ties in 2022 by appointing ambassadors to each other's countries. Since January, Turkish authorities have arrested numerous individuals, including private investigators, on suspicion of espionage for Israel, primarily targeting Palestinians residing in Turkey.
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