Agenda

Israel Turned Its Route To Turkey For Trade

Accordıng to İbrahim Sinan Ak, the chaırperson of deık turkey-ısrael busıness councıl, Israelı busınesspeople turned to turkey for trade ın the coronavırus process

Talking about the developments in the trade between Turkey and Israel and the future of the countries’ economic relations, İbrahim Sinan Ak, the Chairperson of DEİK Turkey-Israel Business Council, stated that the trade volume between the countries increased to $6.6 billion last year. According to Ak, Israel’s export decreased by 26% and import by 27% in April due to coronavirus. “After the pandemic crisis with China, Israeli manufacturers and exporters had to search for alternatives. In this period, they turned to Turkey for trade due to its geographical proximity, manufacturing quality, and reasonable prices,” he said.

We Can Strengthen Our Position in the Supply Chain
Ak talked about how the transmission rate of the virus affected the trade relations between countries and said, “I believe that Turkey’s trade relations with Israel will improve once we leave this pandemic process behind. The crisis with China showed how risky it was to be dependent on one country. I think that companies will start conducting their manufacturing activities in more than one country. Turkey can strengthen its position in the supply chain with its geographical advantages.”

Turkey’s export to Israel increased by 4.9% compared to the same period last year and be- come $1,173,000,000 in January-March 2020 when the outbreak was at its peak. Import from Israel in the same period regressed by 1.4% and become $464,375,000.

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