He made the remarks during a meeting with the board of directors of the Independent Industrialists and Businessmen Association in Istanbul, according to the Presidency’s website.
The President also noted that the government will coordinate and consult with the business community to manage the consequences of halting trade with Israel, Xinhua news agency reported.
Turkey on Thursday halted all trade activities with Israel due to the latter’s “non-stop violence” against Palestinians in the Gaza Strip, according to the Turkish Trade Ministry
Erdogan also said that this decision would set a precedent for other countries unsettled by the current situation.
Turkey said on Friday it will not resume trade with Israel, worth $7 billion a year, until a permanent ceasefire and humanitarian aid are secured in Gaza, becoming the first of Israel's key commercial partners to take such a step.
Israel’s “uncompromising attitude” and the worsening situation in Gaza’s Rafah region, a refuge for displaced people that Israel has threatened to storm — prompted Ankara to halt all exports and imports, Trade Minister Omer Bolat said.
Israeli Foreign Minister Israel Katz criticised Turkish President Tayyip Erdogan's move, enacted late on Thursday, saying it breaks international trade agreements and was “how a dictator behaves”.
The militant group Hamas, which rules Gaza, praised the decision as brave and supportive of Palestinian rights.
It marks Ankara's strongest step after months of sharp criticism of Israel's military campaign, which has laid waste to the densely populated Palestinian enclave. Erdogan had faced growing domestic calls for more tangible action.
Turkey could not remain idle in the face of "Israeli bombardment of defenceless Palestinians", Erdogan said after Friday prayers. Israel says it is targeting militants hiding in residential areas.
