Israel's CB against breaking commercial ties with Turkey

Speaking at a conference on Monday, Fischer said that Turkish economy recorded a very rapid growth figure, and left Israel's growth rate behind.

Israel's CB against breaking commercial ties with Turkey

Israel's Central Bank Governor Stanley Fischer said that Israel's not having commercial ties with Turkey would have a high cost for Israel.

Speaking at a conference on Monday, Fischer said that Turkish economy recorded a very rapid growth figure, and left Israel's growth rate behind.

Noting that Turkish economy was growing with a remarkable speed, Fischer said that Turkey had big entrepreneurs as well as labor force which received education in Europe.

Fischer said that Turkey would be a very big market and an important exporter country in the region, adding that not having commercial relations with Turkey would have a high cost for Israel.

Turkey is the most important country among regional countries including the Gulf countries too, said Fischer.

Recently, Turkish Foreign Minister Ahmet Davutoglu unveiled a series of decisions concerning Turkish-Israeli relations.

The decisions included downgrading Turkish-Israeli diplomatic ties to the level of a second-secretary, suspension of military agreements, measures pertaining to freedom of navigation in the Eastern Mediterranean and demanding a review of the Israeli blockade over Gaza by the International Court of Justice.

On May 31, 2010, Israeli commandos raided a humanitarian aid flotilla heading for Gaza, killing nine Turkish nationals one of whom was a U.S. citizen. Turkey said after the attack that it expected Israel to make a formal apology, pay a certain compensation to the families of the victims and to end its blockade over Gaza.

The United Nations established an inquiry panel to examine the incident. The UN panel's long-awaited "Palmer Report" was handed over to UN Secretary-General Ban Ki-moon on September 2.

The report said Israel's raids of the vessels was "excessive and unreasonable," while the flotilla acted "recklessly" in attempting to breach the naval blockade. It also said the Israeli naval blockade on Gaza was "legal".

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Last Mod: 05 Eylül 2011, 15:18
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