Turks and Israelis declare economic war

Does it matter that bilateral trade between Israel and Turkey is about disappear in to outer space?

For Israelis, Antalya is a mega tourist destination. All charter flights have been cancelled. Zvika Levinson, CEO of Daphna, an important clothing chain, has cancelled plans to open up a production line in Turkey. Almogim, an Israeli building company, has cancelled import orders.

For over a year, Israel and Turkey have been playing love-hate over trade relations. In parallel, senior Turkish politicians have been cosying up to Israel’s enemies; Syria and Iran. And now, after the fall out of the so-called peace-keeping mission,  little room remins for hope and expectation. What’s at stake? Around US$2.5 billion worth of trade annually.

One Israeli investment house, Halman-Aldubi, has pulled out of Turkey all together. There are some key Israeli defence contractors, who may see contracts ripped up over night. As for tourism, Israeli TV reported that Israeli visitors barely add up to 1% of the Turkish market.

Who will suffer in the end? Just the average citizen, on either side, as politicos continue to trade insults, replacing cooperation with distrust.

Explore posts in the same categories: Business, Israel

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4 Comments on “Turks and Israelis declare economic war”

  1. david Says:

    You have said something I have been thinking

  2. Michael Horesh Says:

    Turkey suspends water and energy projects with Israel

  3. […] Horesh of Afternoon Tea in Jerusalem reflects on the economic war looming between Turkey and Israel: “Who will suffer in the end? Just the […]

  4. reiki Says:

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    Proff. Dott. Lorenzo Dall’Olio
    Reiki Master Usui

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