Following Turkish President Recep Tayyip Erdogan's decision to ban Turkish exports to Israel, Finance Minister Bezalel Smotrich announced a 100% hike in customs duties on Turkish imports. The decision will be submitted to the government for approval.
According to Smotrich's decision, all the reduced customs rates applicable to goods imported from Turkey according to a free trade agreement between the two states will be abolished. In addition, a duty will be imposed on any product imported from Turkey to Israel at a rate of 100% of the value of the goods in addition to the existing duty rate.
According to the wording of the resolution that will be submitted for the government's approval, the move will remain in effect until the end of Erdogan's term in office.
Smotrich: For too many years, Israel has sided with Erdogan - not on my watch
In addition, it is proposed to instruct the Minister of Economy, the Minister of Foreign Affairs and the Minister of Finance to take the necessary steps to strengthen Israeli industry and help diversify Israel's import sources with regard to products currently imported from Turkey in order to create alternatives and reduce the dependence of Israel's economy on Turkish products.
According to a survey by the Israel Manufacturers' Association, as well as an in-depth analysis, China, Eastern Europe, Greece, Germany, Cyprus, Taiwan and others can become relevant alternatives for Israeli manufacturers.
Finance Minister Bezalel Smotrich said: "Raising the customs duty on imports from Turkey is an appropriate Zionist answer to Erdogan. For too many years the State of Israel has struggled to combat Erdogan's antisemitism. Not on my watch. We have national honor, national pride, and a strong economy that does not need favors and certainly not the support of anyone who fights against it. If at the end of Erdogan's term the citizens of Turkey elect a leader who is sane and does not hate Israel, it will be possible to return the trade route with Turkey to the way it was before."
