Deputy Prime Minister Vuong Dinh Hue addresses the forum (Photo: vov)
Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has affirmed that Vietnam always opens doors for Israeli businesses and supports them to access its 90-million strong market, over-600-million ASEAN market, and other countries that have established trade ties with Vietnam.

Addressing a Vietnam-Israel business forum in Hanoi on March 21, the Deputy PM highly valued the special attention that the Israeli Government has paid to the promotion of economic, trade and investment partnership with Vietnam.

He noted that although two-way trade spiraled from 200 million USD in 2010 to over 1.2 billion USD in 2016, the figure has yet to meet expectations.

He suggested that the two sides should foster cooperation in areas of Vietnam’s needs, including farming, breeding, renewable energy, smart power grid, water resource management, e-commerce, cyber security and human resource training.

He also expressed hope that Vietnamese firms will learn from their Israeli peers’ experience, especially in how to develop the world’s leading startup country with modest natural resources.

He declared that the Vietnamese Government commits to working together with the Israel Government in building optimal legal frameworks serving partnerships between the two sides’ business communities.

Hue said he hopes that negotiations for a Vietnam-Israel free trade agreement will be completed in 2018 when the countries celebrate the 25th anniversary of diplomatic ties.

Meanwhile, visiting Israeli President Reuven Rivlin highlighted the significance of bilateral ties with Vietnam in his country’s international integration.

He stated that Israel is interested in affiliating with Vietnam in various fields, including trade, knowledge-based development, water treatment, irrigation, dairy industry, medical equipment, education, agriculture, fertilizer production, and cyber security.

According to Jonathan Hadar from Israel’s Ministry of Economy and Industry, Israel is becoming a large research and development centre hosting more than 250 multinational groups and firms.

Shraga Brosh, President of the Manufacturers’ Association of Israel, predicted that the two countries will enjoy closer collaboration in hi-tech agriculture, technology transfer, water treatment, mobile network and medical equipment based on the win-win basis.

The same day, a conference themed “Israel – Supplier of high technology for Vietnam’s agriculture development,” was held, with Israeli firms introducing their advanced technology in watering and green house installation.

The events were jointly held by the Vietnam Chamber of Commerce and Industry and the Israeli Embassy in Vietnam during President Reuven Rivlin’s State visit to Vietnam from March 19-25.-VNA