Despite Rift, Israel-Turkey Trade Continues to Flourish
Despite frigid diplomatic relations between the two countries in recent years, Israel and Turkey haven’t suffered in the trade department, according to new data.
Turkey’s exports to Israel reached $612 million in the first quarter of 2013, from $555 million in the same period last year, according to the foreign trade data compiled by Hurriyet Daily News from the statistical agencies of both countries. Israel’s exports to Turkey reached around $475 million in the first quarter of 2013, from around $448 million. Israel-Turkey trade amounted to over $4 billion last year.
While Turkey’s main exports to Israel are vehicles, construction materials, metals, electronic devices, textiles and accessories, Israel’s exports to Turkey are high-tech manufacturing machinery and parts, water irrigation systems, plastics and chemicals.
Following Israel’s recent formal apology to Turkey, the two countries are attempting to normalize relations after the 2010 Mavi Marmara Flotilla incident in which Turkish nationals were killed after they attempted to lynch IDF troops who boarded their boat for a routine inspection.