Türkİye, Economy

Israel to reopen economic office in Türkiye

Move comes as ties between Israel, Türkiye began to improve

Mücahit Aydemir   | 06.07.2022
Israel to reopen economic office in Türkiye

JERUSALEM 

Israel said it will reopen its economic and trade office in Türkiye next month as relations began to improve between the two countries.

“The reopening of the economic attaché reflects Israel’s commitment to deepening economic ties with Türkiye,” Israeli Economy Minister Orna Barbivai said in a statement. 

“We intend to soon promote a joint economic conference between the countries, after more than a decade,” she added. 

Ohad Cohen, Head of the Foreign Trade Section at the Ministry of Economy, said Türkiye is “a significant economy” for Israel’s foreign trade. 

“Today’s exports to Türkiye are concentrated and there is great potential for expansion. The potential inherent in the cooperation, for the benefit of the two countries,” he said. 

Cohen said the reopening of the economic office will benefit around 1540 Israeli companies that export to the Turkish market. 

Tel Aviv and Ankara began to take steps to improve their relations fractured after Israeli forces stormed a Gaza-bound flotilla carrying humanitarian aid for Palestinians that broke aa years-long Israeli blockade on the Palestinian territory. The incident resulted in the deaths of nine Turkish activists.  

According to Israeli figures, Türkiye is the fourth most important trade partner for the Israeli economy. 

Israel and Türkiye signed a free trade agreement in 1997. 

* Ikram Imane Kouachi in Ankara contributed to this report.

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