Türkiye, Israel seek to boost trade ties

Türkiye, Israel seek to boost trade ties

Türkiye, Israel seek to boost trade ties

Representatives from 60 Israeli companies held talks with Turkish firms to explore opportunities for cooperation.

The talks, which took place in Istanbul, followed a visit Turkish exporters paid to Israel in March.

Turkish companies in the steel, chemicals, automotive and ready-wear industries are doing business with Israel, said Mustafa Gültepe, president of the Turkish Exporters’ Association (TİM).

“Relations between the countries could go further under the win-win principle. We can widen and strengthen the cooperation in many fields, including the food, agriculture, cosmetics and home textile industries,” he added.

Some 100 people from 60 Israeli firms will hold talks with 400 Turkish companies, said Uriel Lynn, the president of the Federation of Israeli Chambers of Commerce.

“If the question is China or Türkiye? Of course, we want to buy [goods] from Türkiye,” he added.

Trade volume between Türkiye and Istanbul could be increased from the current $9 billion to $13 billion in two years, Lynn said.

Israel is among Türkiye’s top 10 export markets, according to Gültepe.

Türkiye’s exports to Israel leaped more than 100 percent in the past five years to $6.4 billion with annual imports from this country of around $2 billion, he added.

Gültepe voiced confidence that Türkiye could boost its exports to Israel to at least $12 billion and the bilateral trade volume could grow to $15 billion in five years.

Geographical proximity between and strong production base in both countries offer huge potential to increase trade, he said.

Turkey, Economy, Diplomacy,