FALCON POWERS – The Israeli Ministry of Foreign Affairs has responded to Turkey’s complete cessation of economic exchange by announcing its intention to reduce the volume of trade between Turkey and the Palestinian Authority and Gaza.
The ministry’s statement reads, “Based on the instructions of Israeli Foreign Minister Israel Katz, a discussion was held at the Ministry of Foreign Affairs, chaired by the Director-General of the Ministry of Foreign Affairs, with the participation of senior officials from the Ministry of Foreign Affairs and high-level representatives from the Ministry of Economy and the Tax Authority.”
The statement further states, “During the discussion, a number of important and practical decisions were made within the framework of inter-ministerial cooperation, as a sharp response to Erdogan’s unilateral decision to halt trade with Israel.”
Among the key steps agreed upon, according to the Israeli Ministry of Foreign Affairs, are:
- Working to reduce any economic relationship between Turkey and the Palestinian Authority and Gaza (Turkey is the largest supplier to the Palestinian Authority, with its total imports accounting for approximately 18%).
- Urging international economic forums to consider sanctions against Turkey for its violation of trade agreements.
- Building an extensive network of alternatives, in cooperation with the Ministry of Economy, to find alternatives for the Israeli economy in various sectors and products in the immediate timeframe.
- Providing assistance to affected Israeli export sectors. Foreign Minister Katz urged Finance Minister Smotrich to promote a package of aid for export sectors in Israel that may be affected by the Turkish decision.
In response to these decisions, Katz stated, “We will not succumb to Erdogan’s blackmail and threats. The Israeli economy is stronger than a dictator like Erdogan, who violates agreements and works in favor of Hamas. Anyone taking unilateral steps against the Israeli economy will receive a painful and appropriate response. Erdogan wants to harm Israel, but he will primarily harm the Palestinian economy. Another ‘splendid’ step by the dictator who dreams of becoming a sultan.”
He added, “I have ordered the reduction of any economic relations between Erdogan and the Palestinian Authority and Gaza.”
He continued, “Israel will create alternatives to imports from Turkey by increasing domestic production and finding political alternatives for imports. The Israeli economy is strong, and the Turkish economy will be much more affected than the Israeli economy due to the trade balance between the countries. This is a mistake, and Erdogan will regret it.”
Turkey officially announced the severance of all trade relations with Israel and emphasized that it will not reverse the decision until the uninterrupted supply of humanitarian aid to the region is ensured.
