Illustrative image (Source: VNA) Tel Aviv (VNA) – Vietnam-Israel trade reachedover 790 million USD in the first nine months of 219, with Vietnam’s exportrevenue of about 410 million USD, according to the Vietnam Trade Office inIsrael.
Trade Councellor Le Thai Hoa said that Vietnam and Israel havesupplementary demands in imports and exports. Many Israeli firms are keen ondirectly importing food, foodstuff, beverage, garments and footwear from Vietnam,he noted.
Hoa said that in the first nine months of 2019, Vietnam’sexport of footwear to Israel continued to expand22.3 percent year on year,while that of aquatic products dropped 32.2 percent as Israel has beenstrengthening food safety regulations on imported foodstuff since the end of2018.
Decline was also seen in a number of Vietnamese exports suchas garment and textile at 5.6 percent, coffee at 4 percent, and cashew at 3.7percent.
However, Vietnamese rice continued to take a stable market sharein Israel, noted Hoa who said that in the first 10 months of 2019, Vietnam’sexport revenue in the Israeli market was estimated at more than 670 millionUSD, while the country’s imports were about 215 million USD.
He predicted that for the whole year, the figures may reachover 800 million USD and about 260 million USD, respectively, thus raisingtrade between the two countries to over 1 billion USD.
According to the office, many local firms show interest inpartnering with their Vietnamese peers in investment, startup, science andtechnology application in production, cybersecurity, telecommunications and IT,fintech, agriculture, and labour.
At the same time, various Israelifirms also want to build factories in Vietnam to produce consumer goods./.
VNA
