The signing and implementation of the Vietnam-Israel Free Trade Agreement (VIFTA) is expected to create favourable conditions for Vietnam to boost exports while accessing Israel's hi-tech goods, contributing to reducing production and business costs and improving the competitiveness of Vietnamese goods, said economists.
Vietnam-Israel trade, propelled by the current growth momentum, is expected to surpass 3 billion USD in 2024, Vietnamese Trade Counsellor in the Middle Eastern nation Le Thai Hoa has said.
The Vietnam Association of Seafood Exporters and Producers (VASEP) forecast tuna export orders will increase sharply in the last months of the year due to decreasing inventories in major export markets and the recently signed Vietnam-Israel Free Trade Agreement.
Strengthening bilateral economic and trade cooperation after the Vietnam-Israel Free Trade Agreement (VIFTA) comes into effect will bring about great benefits and opportunities to businesses from both countries, Minister of Industry and Trade Nguyen Hong Dien has said.
The Vietnam-Israel Free Trade Agreement, which was signed on July 26 after seven years of negotiations, would create a conducive atmosphere for the export of Vietnamese products to Israel, according to many experts.
Vietnam and Israel should consider science-technology and high-tech agriculture as priority areas for cooperation, Deputy Prime Minister Tran Luu Quang told Israeli Prime Minister Benjamin Netanyahu during their talks on July 25.
Vietnamese Minister of Foreign Affairs Bui Thanh Son has told Israeli Ambassador to Vietnam Yaron Mayer that Vietnam attaches importance to its friendship and cooperation with Israel, one of its important partners in the Middle East.
