At the working session (Photo: VNA) Hanoi (VNA) – Vietnamese Minister of Industry andTrade Nguyen Hong Dien has hailed Israel as a promising market of Vietnam inWest Asia.
During a working session with Israeli Ambassador to Vietnam NadavEshcar in Hanoi on November 16, Dien said Israel is now the fifth largest tradepartner of Vietnam. Despite the COVID-19 pandemic last year, two-way trade stillhit 1.6 billion USD, up 36.4 percent annually. The figure went up 14.3 percentyear-on-year to 1.3 billion USD in nine months of this year.
Illustrative image (Photo: vneconomy.vn) Vietnam’s major exports to Israel include mobile phones,computers and accessories, aquatic products, cashew nuts, apparel, footwear, coffee,pepper, machinery and equipment, natural rubber, beverages, plastic and woodenproducts, chemicals, handicrafts and ceramics.
Dien suggested the ambassador offer support to the country intrade promotion, both directly and indirectly, to bring more Vietnamese goods such as pepper, cashew nuts, coffee, fruits andvegetables, leather and footwear to Israel.
According to him, both sides should consider a mechanism onsharing of information regarding technical requirements for exports,contributing to lifting two-way trade.
Eshcar, for his part, said negotiations on a free tradeagreement between Vietnam and Israel are in the final stage which will create anew breakthrough for bilateral ties. If the deal is signed, two-way trade couldincrease to 3-4 billion USD each year quickly.
The Israeli side is urging agencies concerned to complete thetalks this year and look to sign the deal next year, he said.
The host wished that the Israeli firms would invest more insupport and electronics industries in Vietnam, as well as offer more assistancein investment, digital transformation, and technological infrastructure.
Vietnam is ready to step up negotiations towards reaching a bilateralFTA with balanced interests for both sides, he said./.
