Ministrer of Economy and Industry Orna Orna Barbivay will visit Turkey to promote economic ties

Minister of Economy and Industry, Orna Barbivay, is leaving this morning for a professional visit to Ankara during which a series of meetings will be held with the aim of strengthening the economic and trade relations between the countries. The visit is being held in cooperation with the Ministry of Foreign Affairs. The Minister of economics will be joined by the Director of Foreign Trade Administration at the Ministry of Economy Mr. Ohad Cohen, Deputy Director of Economics at the Ministry of Foreign Affairs Ms. Yael Rabia Zadok, the Israeli Ambassador to Turkey Ms. Irit Lilian and the Economic Attaché in Turkey Mr. Matan Safran.
As part of the visit, the Minister will meet the Minister of Industry and Technology of Turkey, Mr. Mustafa Warnak, with whom she will discuss the issue of tightening cooperation in the technological field, expanding cooperation in the field of innovation in the start-up industry, cooperation in the field of small and medium-sized businesses, as well as inviting Turkish delegations to visit Israel, including retail chains.
During her visit, the minister will also meet with the Turkish Minister of Trade, Dr. Mehmet Mosh, who is responsible for all aspects of Turkey's international trade. The ministers will discuss the reconvening of the Joint Economic Committee for the two countries, which has not convened since 2009, in order to discuss the promotion of important economic issues for the two countries such as simplifying trade procedures and expanding it, reducing mutual tariffs, standardizing and encouraging cooperation through the organization of mutual commercial delegations, conferences and joint events led by the Israeli economic attaché in Istanbul.

In addition, the minister will meet with the board member of the Economic Policy Council of Turkey, Dr. Hakan Yurdakul, where a professional review of the Turkish economy will be given and the parties will discuss ways to strengthen bilateral economic cooperation.

Ohad Cohen, director of the Foreign Trade Administration: "Turkey is a natural trade partner of Israel in light of the complementary characteristics of these two economies and in view, it is one of our largest trade partners. At the same time, the unrealized potential in our economic relations with Turkey requires closer cooperation between the parties , in both the public and private sectors. I am confident that the professional meetings that took place during this visit, along with the renewal of our economic engagement activities in Istanbul, will help Israeli and Turkish companies to establish solid commercial ties that will contribute to the well-being of all parties."
According to data from the Foreign Trade Administration at the Ministry of Economy and Industry, Turkey and Israel are significant trading partners and are both in the top ten in the scope of trade relations, mutually.
 The estimated volume of trade between Israel and Turkey in 2021 was approximately $7.7 billion, a figure that reflects an increase of approximately $1.8 billion compared to the volume of trade in 2020 which was approximately $5.9 billion (an increase of approximately 31%). From the first median data for 2022 it appears that Israeli exports registered an impressive increase of 25% compared to the corresponding period last year. Israeli exports to Turkey are distinctly goods biased (>95%) while in general, in 2021 the export of services overtook the export of goods for the first time.
Turkey and Israel signed a free trade agreement which entered into force in 1997, along with a long list of other economic agreements that regulate the economic relations between the countries.
Matan Safran, the head of economic relations of the Ministry of Economy and Industry in Turkey: "Economic relations between the countries have always been characterized as an island of stability and strength, and now they can return and take their place at the front of the stage of bilateral relations. The goals of the economic relations of the Ministry of Economy and Industry in Istanbul are first and foremost the increase and diversification of Israeli exports to Turkey through assistance to companies in technologically leading fields, primarily cleantech technologies (climate, agriculture, water, food), advanced manufacturing and medical device technologies. In addition, the affiliate will work to attract quality investments to Israel."