Israel to abolish free trade deal with Turkey
(VOVWORLD) - Israeli Finance Minister Bezalel Smotrich on Thursday announced that Israel will abolish its free trade deal with Turkey and impose a 100-percent tariff on Turkish imports in retaliation for Ankara's decision to halt exports to Israel.
 Israeli Finance Minister Bezalel Smotrich (Photo: AFP/ VNA) |
The decision, to be submitted to the Israeli cabinet for approval, would remain in effect until the end of the term of Turkish President Recep Tayyip Erdogan.
The Turkish Trade Ministry announced on May 2 a halt to all trade with Israel due to Israel’s "non-stop violence" against Palestinians in the Gaza Strip.
Minister Smotrich called the Turkish move "a declaration of economic boycott and a serious violation of international trade agreements."