Turkey, Israel trade still on rise this year

Turkey, Israel trade still on rise this year

ISTANBUL - Hürriyet Daily News
While Turkey and Israel are on track to renormalize their relations after the Mavi Marmara Flotilla case and Israel’s formal apology to Turkey, their trade relations do not appear to have suffered.

Turkey’s exports to Israel reached $612 million in the first quarter of 2013, from $555 million in the same period last year, according to the foreign trade data compiled by Daily News from the statistical agencies of both countries. Israel’s exports to Turkey reached around $475 million in the first quarter of 2013, from around $448 million. Their trade amounted to over $4 billion last year.

While Turkey’s main exports to Israel are vehicles, construction materials, metals, electronic devices, textiles and accessories, Israel’s exports to Turkey are high-tech manufacturing machinery and parts, water irrigation systems, plastics and chemicals.

Turkey and Israel signed a free trade agreement in 2000 when Turkey’s annual exports to Israel were around $650 million.

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