Turkey's delegation at the meeting will be chaired by Minister of National Defense Vecdi Gonul while the Israeli delegation will be chaired by Minister of Industry, Trade and Labor Binyamin "Fuad" Ben Eliezer.
Eliezer and a delegation of about 20 businessmen arrived in Istanbul on Sunday.
The Israeli delegation will proceed to Ankara on Monday afternoon.
Minister Eliezer is scheduled to meet Turkish Foreign Minister Ahmet Davutoglu on Monday.
Eliezer will be received by Turkish President Abdullah Gul on Tuesday. Eliezer will also meet Turkish Minister of Agriculture and Rural Affairs Mehdi Eker and Turkish Minister of Environment and Forestry Veysel Eroglu on Tuesday.
The most recent meeting of the Joint Economic Committee between Turkey and Israel took place in 2007. The two sides will sign a protocol on Tuesday evening.
Vecdi Gonul will host a dinner in honor of the Israeli delegation on Monday.
The trade volume between Turkey and Israel was worth 3.3 billion USD in 2008.