Turkey's Trade with Israel Reaches $9.5 Billion Despite Gaza Tensions

Turkish President Recep Tayyip Erdogan announced on Friday that Turkey's annual trade volume with Israel has reached $9.5 billion. This statement comes after Erdogan declared that Turkey would halt trade, aimed, forcing, truce with Israel, a move aimed at forcing Israel to agree to a ceasefire in Gaza.

Why this matters: The trade volume between Turkey and Israel has significant implications for the region's economy and stability, as it highlights the complex economic ties that persist despite political tensions. The move also underscores Erdogan's efforts to exert pressure on Israel to agree to a ceasefire, which could have far-reaching consequences for the humanitarian crisis in Gaza.

The decision to restrict trade with Israel is the latest indication of deteriorating relations between the two countries. In April, Turkey announced it would restrict exports to Israel, covering 54 products. Erdogan's move is seen as a response to Israel's war against Hamas in Gaza, which has resulted in a humanitarian crisis.

"We have taken some measures to force Israel to agree to a ceasefire and increase the amount of humanitarian aid to enter" Gaza, Erdogan told a group of businessmen in Istanbul. "We will oversee the consequences of this step we have taken in coordination and consultation with our business world."

Erdogan emphasized that Turkey does not seek hostility or conflict in the region, stating, "We do not want to see conflict, blood or tears in our geography." He also accused Israel of "state terrorism" and branded Prime Minister Benjamin Netanyahu the "butcher of Gaza."

Israeli Foreign Minister Israel Katz accused Erdogan of breaking agreements between the two countries after Ankara announced the trade freeze. However, Erdogan remains resolute, stating, "We have one goal here, and that's to force the Netanyahu government, which went out of control with the unconditional military and diplomatic support of the West, to a ceasefire."

According to the Hamas-run health ministry in Gaza, over 34,600 people, mostly women and children, have been killed in the conflict. Israel estimates that 34 of the 129 captives seized by militants are dead.

Despite the tensions and trade restrictions, the $9.5 billion trade volume between Turkey and Israel highlights the complex economic ties that persist even as political relations have soured. As the conflict in Gaza continues, Erdogan's efforts to pressure Israel through trade measures will be closely watched by theinternational community.

Key Takeaways

• Turkey's annual trade volume with Israel reaches $9.5 billion despite tensions.
• Erdogan restricts trade with Israel to force a ceasefire in Gaza.
• Turkey's move aims to increase humanitarian aid to Gaza.
• Erdogan accuses Israel of "state terrorism" and Netanyahu of being the "butcher of Gaza."
• Over 34,600 people, mostly women and children, have been killed in the Gaza conflict.