ISRAEL-BBG: Erdoğan, Netanyahu Could Meet In July

Bloomberg reporting that according to people familiar with the situation, Turkish President Recep Tayyip Erdoğan and Israeli PM Benjamin Netanyahu could hold a face-to-face meeting in July in what would represent a major step in the normalisation in relations between the two states. The article reports that following the cessation in diplomatic relations in 2010 after an Israeli attack on a Turkish flotilla steaming to the Gaza Strip, "The disruption to supply chains and commodity markets from Russia’s invasion of Ukraine is providing a fresh incentive to mend ties,"

• On East Med gas extraction: "Talks may encompass the potential export of liquefied natural gas from a field off the Gaza Strip to Europe via Turkey, they said, although it’s unclear how much gas is there and distributing it remains years away."
• On trade: "Turkey’s exports to Israel increased 11% to $7 billion last year, while imports were around $2.5 billion, [...]. Israeli companies are seeking to do more business with [Turkey], partly [because] higher shipping costs are making supplies from China more expensive. Israel mainly imports, steel, iron and other construction materials from Turkey."
• Geopolitically, Israel and Turkey hold some similar objectives, such as seeking a reduction in Iran's influence within Syria, backing Azerbaijan in its long-running feud with neighbouring Armenia, and seeking to bolster relations with Saudi Arabia.