Greece Set to Become Israel's Prime Trade Partner, Overtaking Turkey

An Israeli delegation has returned from Athens with ambitious plans to triple the trade volume between Israel and Greece, positioning Greece as a key economic ally amid ongoing tensions with Turkey. The delegation, led by Dr. Ron Tomer, president of the Manufacturers Association of Israel, marks the first significant economic mission since the escalation of the conflict with Turkey, and its outcomes could see Greece soon becoming Israel's primary trade partner.

With Turkey imposing a boycott on economic ties with Israel, the need for new alliances has become urgent. The reciprocal boycott by Israel has further disrupted various sectors, including construction, industry, and commerce. In this climate, Greece is eager to expand its economic relationship with Israel, especially focusing on the booming tech sector. Greek economic leaders extended a warm welcome to the Israeli team, emphasizing their desire to grow ties beyond simply filling the gap left by Turkey.

The visit was coordinated by Israel's Foreign Ministry's Economic Division and included meetings with top Greek government officials and major trade organizations, such as the Athens Chamber of Commerce and Enterprise Greece, which is tasked with promoting trade and investment.

Dr. Tomer highlighted the historical bond between Greece and Israel, noting Greece's consistent support even amid recent conflicts. He emphasized the potential for increased cooperation across all sectors, particularly pointing to Israeli exports, which he described as having significant room for growth.

Yael Ravia-Zadok, the ministry’s deputy director general for economics, underscored the strategic significance of the partnership. She highlighted joint projects in energy, including an undersea cable linking the countries' electricity grids, as foundational to regional stability and economic development.

Trade between the two nations has already surged by 41.3% from 2023 to 2024, increasing from $920 million to $1.3 billion. Israeli exports to Greece, totaling $353.4 million in 2024, were led by chemicals, basic metals, plastic products, and electrical machinery. Meanwhile, Greece exported $902.8 million worth of goods to Israel, primarily basic metals, electrical machinery, and chemicals.

As trade relations continue to strengthen, Greece is set to play a crucial role in Israel's economic future, paving the way for deeper ties and shared growth.