Under the leadership of the Federation of Israel Chambers of Commerce, an Israeli purchasing delegation of about 100 people from 60 companies met with the members of the Turkish Exporters Assembly (TIM) in Istanbul on Monday.

Speaking at the meeting held before the talks, Trade Ministry Export General Manager Mehmet Ali Kılıçkaya stated that the economic relations between Turkiye and Israel follow a stable course.

The recently increasing high-level dialogue between the two countries offers a valuable opportunity to create a new synergy in the commercial field, increase the bilateral trade volume and develop new partnerships, Kılıçkaya said, adding that the increasing momentum of economic and commercial relations will undoubtedly reflect positively on all relations.

In 2021, the trade volume between the two countries has increased by 35% and reached $8.4 billion, he said, pointing out that a volume of over $9 billion is expected to emerge by the end of 2022.

"We think that we can achieve a sustainable increase in trade figures by considering mutual benefits with the new cooperation we will develop. We believe that Türkiye should play a more active role in realizing the emerging potential in Israel's foreign trade," he said.

Israel's Ambassador to Ankara Irit Lillian expressed that she was very honored and happy to see people from both Türkiye and Israel determined to do business in the same environment.

Expressing that this biggest event between the two countries in the last 10 years is exciting, Lillian said: "This special energy reflects not only the hopes and expectations, even the growing bilateral trade volume and growth potential, but mainly the positive spirit that has kept us alive for more than 10 years. I am so grateful to all of you for being so committed to this change achievement."

Lillian stated that people engaged in economy and trade have a unique dynamism, emphasizing: "Today's meeting should not only be seen as a meeting point for Turkish exporters and Israeli importers. Rather, it should be seen as a reset point leading to a learning process. Both partners should learn about the needs and capabilities of the other."

"Despite differences in size, population and manufacturing capacities, the Israeli and Turkish economies have a lot to gain from each other, especially in increasing their advantages," the Israeli diplomat said.

Pointing out that there will be people who will fly between the two countries more frequently with Turkish Airlines and Israeli Airlines, Lillian said, "All these changes will ensure that commercial and economic ties will be a strong pillar of our relations in the future and will increase not only the peace between the two countries but also the stability in our region."

TIM Chairperson Mustafa Gültepe, meanwhile, for his part said although Türkiye-Israel relations have gone through difficult times from time to time, commercial ties have always remained strong.

"Israel is among the top 10 countries we export to the most. In the last five years alone, we have increased our exports by more than 100% to $6.4 billion. In the January-November period of this year, we achieved the volume of the previous year. Our annual imports from Israel total around $2 billion. Our total foreign trade volume is around $9 billion," he said.

Gültepe stressed that Türkiye could increase exports to at least $12 billion and the foreign trade volume to $15 billion in the next five years.

"Because the production power and geographical proximity of the two countries, they have the potential to increase our trade much more," he said.

"We cooperate with Israeli companies in many sectors from chemicals and automotive to ready-made clothing. We can further our relations within the framework of the 'win-win' principle. We can expand and strengthen our cooperation with many different sectors, especially food, agriculture, animal products, cosmetics and home textiles," Gültepe noted.

Uriel Lynn, head of the Israel Federation of International Chambers of Commerce, stated that a new era of partnership has begun.

"I think there's no doubt that if we continue to work together, we can definitely increase bilateral trade to $10 billion in one year. It's not an unattainable goal. We're very close to the goal. We can really build a sustainable trade relationship," Lynn said.

Türkiye "gives us a lot of advantages in transportation due to its geographical proximity," Lynn said, praising Türkiye’s dynamism and production power.

Within the scope of the visit, Israeli importers met with representatives of food, cosmetics, construction and raw materials, toys, baby products, metal, furniture, textiles, medical equipment, chemicals, plastics and household goods companies from Türkiye.