Slowly but surely, Israel is starting to realise where it matters (in the back pocket) that its criminality will come at a steep price. Who truly wants to normalise relations with a state that brutalises another people (over and over again)?
Tense relations between Israel and Turkey are weighing on local companies as exports between the two countries dropped 40 percent in the first nine months of the year and Turkish companies failed to pay debt, Israel Credit Insurance Company reported Wednesday.
“In recent months we are seeing an exceptional rise in arrears by Turkish companies to pay Israeli exporters debt owed,” ICIC CEO David Milgrom said Wednesday. “Debt collection in Turkey is fairly complicated. Whereas in the past the banks in Turkey were providing important information on businesses in difficulties, in the recent period they are refusing to do so, which is making credit management of suppliers even harder.”
ICIC has been insuring credit since 1957 and is the leading credit insurer in Israel. Today it insures sales totaling more than $12 billion annually, in both local and foreign trade transactions.
Israeli exports to Turkey totaled $800 million in the first nine months of this year, down 40% from $1.3 billion in the same period last year, ICIC reported. The drop in Israeli exports to Turkey was nearly double the rate of decline in total Israeli exports, which were down 22% in the January-September period, it said. Metals, chemicals and plastics accounted for most of the decline in exports to Turkey, it added.