Turkey’s Decision to Halt Trade with Israel and Its Negative Effects
We are examining Turkey’s decision to halt trade with Israel and the negative effects it has brought. The course of the relations and the economic consequences are being discussed.
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Turkey’s Decision to Halt Trade with Israel
According to the Israeli press, Turkey’s sudden decision to halt trade with Israel is expected to increase the cost of living. Elad Barshan, CEO of a digital supply chain, stated, “This decision struck the weakest point of the supply chain.”
Negative Impacts and Quests
As reported by The Times of Israel, the decision to halt exports and imports with Turkey is emphasized to put firms in a difficult situation. Israeli importers are said to be seeking longer and more costly shipping routes, with some having to replace Turkish suppliers with more expensive firms.
- Dry and fresh food products
- Raw materials
- Electronic devices
- Iron and steel
- An increase in prices of various imported products such as automobiles is expected.
Importers’ Struggle
It is noted that Israeli importers will find alternative sources, but this will further increase production and shipping costs, leading to a higher cost of living. Elad Barshan, CEO of SlickChain, points out that importing from Turkey was a cheap and fast process and that this decision has negatively affected the supply chain.
- It is believed that some Israeli importers will struggle to survive.
- It is suggested that Israel should seek support from allies instead of international courts by pressuring Turkey.
- Yoram Sebba, President of the Israel Shippers’ Council, expresses that Turkey’s decision will force Israeli businesses to seek alternative suppliers.
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