Vietnam business delegation seeks investment, trade opportunities in Israel
Tel Aviv (VNA) – A Vietnamese business delegation made a trip to Israel on November 3-4 during which they attended a Vietnam-Israel conference on production and trade
cooperation in Tel Aviv.
As part of the national
trade promotion programme in 2022, the event was co-hosted by the Vietnamese
Embassy in Israel’s Vietnam Trade Office and the Federation of Israeli Chambers of Commerce (FICC), aiming to support
Vietnamese firms in technological transfer and export to Israel.
Deputy Director of the
Vietnamese Ministry of Industry and Trade’s Trade Promotion Agency Le Hoang Tai
said Vietnam and Israel are negotiating a free trade agreement with 11 rounds of talks held since March 2016. When it is signed, more
bilateral trade and investment opportunities will be opened up.
Israel is now the
fifth largest trade partner of Vietnam in West Asia. In the first nine months of this
year, two-way trade between the two countries surpassed 1.6 billion USD.
Trade Counsellor at the Vietnamese Embassy Le Thai Hoa described Israel as a promising market for Vietnamese
exports, especially processed products with high added value like food and
consumer goods. Vietnam mainly exports mobile phones and spare parts, aquatic
products, cashew nuts, coffee, footwear, pepper and apparel to Israel while
importing computers, circuit boards and electronic components, machinery and fertilizers.
Over 50 Israeli firms
later joined a B2B matching event with Vietnamese partners on the occasion.
During the trip, the Vietnamese
delegation visited and held a working session with Green2000, a leading hi-tech
agriculture company in Israel, to explore cooperation opportunities./.