Normalization of relations with Israel expected to contribute to trade

Published 29.06.2016 00:00

The deal to normalize relations between Turkey and Israel is expected to contribute to the trade volume and tourism between the two countries. Speaking to Anadolu Agency, the chairman of the Turkish Exporters Assembly (TİM), Mehmet Büyükekşi, said that Turkish exporters are very happy with the restoration of relations with Israel in terms of strengthening commercial ties.

Noting that the commercial relations with Israel passed through a problematic time starting from 2010 even though the trade volume between the two countries increased 27 percent over the past six years, Büyükekşi said that both countries have an important commercial partnership for their own interests.

Büyüekşi also said Israel was the 19th largest exporter of Turkish products, worth $2.7 billion in 2015, adding that in the same period Turkey was fifth-biggest importer of Israeli goods with a market share of 4.8 percent. Turkey followed the U.S., China, Germany and Italy. Büyükekşi said they expect trade and tourism relations to consolidate further and to increase Turkey's exports to Israel, raising its share in Israel's total imports.

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