JERUSALEM/ISTANBUL - Israeli Ministry of Foreign Affairs announced on Friday several measures to be taken against Türkiye following the latter's decision to halt all trade activities with Israel due to "non-stop violence" against Palestinians in the Gaza Strip.
The ministry said in a statement that in a discussion carried out by senior officials from the foreign and economy ministries, as well as the Israel Tax Authority, it was decided to work towards reducing any economic connection between Türkiye and the West Bank and Gaza.
Additionally, it was decided to take action in international economic forums to explore sanctions against Türkiye for violating trade agreements, to create an alternative list for the Israeli economy across various sectors and products, and to support affected Israeli export sectors.
It noted that Türkiye is the Palestinian Authority's largest importing country.
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According to Israel's Central Bureau of Statistics, in 2023, Israeli exports of goods to Türkiye amounted to $1.57 billion, while Israeli imports from Türkiye reached $4.61 billion.
During a meeting with the board of directors of the Independent Industrialists and Businessmen Association in Istanbul on Friday, Turkish President Recep Tayyip Erdogan said the country's decision to suspend trade with Israel had one singular purpose, which is to compel the Israeli government into a ceasefire in the Gaza Strip.
The president also noted that the government will coordinate and consult with the business community to manage the consequences of halting trade with Israel.
Erdogan also remarked that this decision would set a precedent for other countries unsettled by the current situation.
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Meanwhile, Israel filed a complaint to the Organization for Economic Cooperation and Development (OECD) against Türkiye for its decision to suspend trade, according to a statement from Israel's Economy Minister Nir Barkat.
Both Türkiye and Israel are OECD member countries.
