Israeli President Herzog’s visit to Turkey will open the door to new cooperation

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Israeli President Herzog's visit to Turkey will open the door to new cooperation

During Herzog’s visit on March 9th and 10th, bilateral relations will be reviewed in all dimensions.

Herzog, who will make an official visit to Ankara with his wife Michal Herzog, will be greeted with a state ceremony at the Presidential Complex and will meet with President Erdogan.

Israeli President Herzog's visit to Turkey will open the door to new cooperation

During the visit, which is said to be co-ordinated by the Offices of the Israeli Prime Minister’s Office and the Ministry of Foreign Affairs, the two leaders will discuss a variety of bilateral issues, including Israeli-Turkish relations, the potential to expand cooperation between the two states and their peoples in various fields.

The talks are expected to focus on steps that can be taken to improve cooperation between Turkey and Israel, as well as to exchange views on current, regional and international issues.

Foreign trade between Turkey and Israel
Tensions in Relations between Turkey and Israel have risen since the country’s attack on the Mavi Marmara ship in 2010, and have been affected by Israeli-Palestinian tensions.

Despite the stagnation in diplomatic relations during this period, trade relations with Israel remained generally positive.

According to the Turkish Statistical Institute, the trade volume of Turkey and Israel has increased in the last 5 years, reaching a record $8.4 billion last year. Bilateral trade volume stood at $6.2 billion in 2020.

Turkey’s exports to Israel increased by 35.1 percent year-on-year to its highest level with $6.4 billion in 2021, while imports rose 36.8 percent to $2.1 billion.

Israel, one of the countries where Turkey has a foreign trade surplus, was the 9th country where Turkey sold the most products during this period.

Last year, the most sold chapters to Israel were “iron and steel” with $1.2 billion, “motor vehicles, tractors, bicycles, motorcycles and other land vehicles, their components, parts, accessories”, and “plastics and products” with $478.4 million.

During the same period, the most imported chapters from Israel were “mineral fuels, mineral oils and products derived from their distillation, bitular substances, mineral candles” with $1.1 billion, “iron and steel” with $208.9 million and “plastics and products” with $150.8 million.

In 2020, Turkey became the 4th country where Israel purchased the most products, while Israel was the 8th country to sell the most products, according to Trademap, a web-based service provider that provides trade statistics globally.

Israel’s foreign trade volume has more than doubled in the last 20 years
Israel, which has a population of 9.4 million, is a country that has a deficit in the trade of goods in general and a surplus in the services section.

The defense industry, diamond processing and information technology sectors are the country’s key export items.

Israel gives a lot of service revenues, especially in the information technology, health tourism and religious tourism sectors.

Israel’s foreign trade volume has more than doubled in the last 20 years. Volume increased from $62 billion in 2001 to $139 billion in 2018, and fell to $119 billion in 2020 due to the Covid-19 pandemic.

Israel, which makes most of its foreign trade with the United States and EU countries, is largely dependent on imports.

Diamond processing, IT, defense industry, pharmaceuticals, health tourism and religious tourism are among the most advanced sectors of the country’s economy.

FİKRİKADİM

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