Economic Relations
In 1996, Turkey and Israel signed a free-trade agreement. In 1997, a double-taxation prevention treaty went into effect. A bilateral investment treaty was signed in 1998.
Israeli-Turkish trade rose 26% to $2 billion in first half of 2011 from $1.59 billion in the first half of 2010. According to the Israeli Chamber of Commerce, Israeli exports to Turkey rose 39% to $950 million, and imports from Turkey rose 16% to $1.05 billion. Turkey is Israel's sixth-largest export destination. Chemicals and oil distillates are the primary exports. Turkey purchases high-tech defense equipment from Israel, whereas Turkey supplies Israel with military boots and uniforms. Israeli import of Turkish vegetable products has remained steady since 2007, and imports of prepared foodstuffs, beverages and tobacco doubled from 2007 to 2011.
Read more about this topic: Israeli-Turkish Relations
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