The Turkish Chief Rabbi in Oporto, 2016.
A statement from Israeli Prime Minister Yair Lapid's office said Israel and Turkey will restore full diplomatic relations, with the return of ambassadors and consuls in both countries.
“Upgrading relations will contribute to deepening ties between the two peoples, expanding economic, trade and cultural ties, and strengthening regional stability,” said Lapid.
Turkey is Israel's fourth most important economic partner, and last year it was Israel's fifth largest import destination. Furthermore, The Turkish Sephardic community, of Portuguese origin, presided over by Chief Rabbi Isak Haleva, has good relations with the Turkish state and with President Recep Tayyip Erdoğan.