Turkey Embargo By Saudi Arabia

Turkey Embargo By Saudi Arabia

Turkey embargo by Saudi Arabia!

The deterioration in political relations has affected the Turkish economy. The Saudi government made the embargo, which it unofficially launched, official at the end of this month, by declaring that it will not buy goods made in Turkey.

These days it is desperate in Turkey, there are thousands of exporters selling goods to the Saudi Arabian market. Saudi Arabia is the 15th country to which Turkey exports the most. Turkey’s exports of $ 3.3 billion, also has imports of 3 billion. Fresh fruits and vegetables, food and textiles are also among the important export products.

First Gulf Turkey’s policies, operations against Syria, followed by the murder of journalist Jamal Spoonbill, left the waters between the two countries in a period of heated state and resulted in the Turkey embargo.

The tension in politics made the economy uneasy and in fact, there had been an implicit embargo for two years. For example, Saudi Arabia increased the value added tax on Turkish products from 5% to 15%. Turkish origin products started to be treated negatively at customs and products such as fresh fruits and vegetables were kept in customs, causing serious problems.

According to the Turkey embargo, products with the Made in Turkey stamp will not be able to enter Saudi Arabia as of October 2020. The period expires after three days.

Exporters say the problem is growing, but officials have taken no steps to resolve it.

It is obvious that the Turkey embargo is political and there is no solution in a short time. However, the expectation of SMEs that employ thousands of workers, is to discuss how they will overcome this situation and seek solutions.

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