Israel to reopen economic office in Turkey amid warming ties-Xinhua

Israel to reopen economic office in Turkey amid warming ties

Source: Xinhua

Editor: huaxia

2022-07-05 22:59:45

JERUSALEM, July 5 (Xinhua) -- Israeli Minister of Economy and Industry Orna Barbivai on Tuesday announced the reopening of Israel's Economic and Trade Mission office in Turkey.

The representation in Istanbul will resume activity on Aug. 1, after being drastically reduced in 2019, said a statement issued by her ministry.

There has been a decline in Israeli economic activity with Turkey since 2010 over political tensions, Shira Kaveh, the ministry's spokeswoman, told Xinhua.

The latest decision to resume activity is part of the warming of relations between the two countries in recent months, which included a meeting between Turkish President Recep Tayyip Erdogan and Israeli President Isaac Herzog in Ankara in early March.

In late May, Turkish Foreign Minister Mevlut Cavusoglu paid a visit to Israel, during which the two countries agreed to boost their economic cooperation.

The Israeli ministry noted that Turkey is the fourth most important trading partner and the fifth most important export destination for Israel in 2021. The two countries also share a free trade agreement signed in 1997.

Mutual trade in goods and business services between the two countries amounted to 7.7 billion U.S. dollars in 2021, an increase of about 30 percent from 2020, according to the ministry.