Pact with Turkey to boost trade

Israel and Turkey have signed an agreement that's expected to boost Israeli food and agricultural exports to Turkey by roughly $20 million yearly, the Industry, Trade and Labor Ministry said Sunday.

By DANIEL KENNEMER
July 31, 2006 10:03
turkey flag 88

turkey flag 88 . (photo credit: )

 
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Israel and Turkey have signed an agreement that's expected to boost Israeli food and agricultural exports to Turkey by roughly $20 million yearly, the Industry, Trade and Labor Ministry said Sunday. Adding to an original pact from 1998 that cancelled tariffs on manufactured goods and reduced customs on food and agricultural produce, the current deal would remove tariffs on quotas of Israeli dried vegetables, coffee, spices, hatchery eggs, and other products coming into Turkey, and on quotas of Turkish dried fruits, nuts, jams, beer and arak coming to Israel. The changes are expected to take effect within three months, following approval by both countries. Turkey is Israel's biggest trade partner in the region, importing $900m. in Israeli goods and exporting $1.2 billion to Israel in 2005.

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