The Middle Eastern nation of Israel, though small in size, is a highlylucrative market for Vietnamese agricultural exports, radio The Voice ofVietnam (VOV) reported.
Two-way trade turnover between Vietnam and Israel has steadily been accelerating over the past years.
Accordingto the Vietnam Trade Office (VTO) in Israel, the country principallyexports agricultural products, garments and electronic equipment whileit imports fertiliser, machinery, equipment and electronic parts fromIsrael.
In the first six months of the year, Vietnam’sagricultural exports to Israel dipped 6 percent compared to the sameperiod last year to 45.7 million USD and accounted for 13 percent of theVietnam’s total export revenues.
Vietnam Customs’ statisticsreflect that agricultural exports to Israel for last year were 100million USD, comprising 27 percent of the country’s total exports toIsrael.
Major agricultural export products included seafood(42.4 million USD), coffee (25.9 million USD), cashew nuts (23.8 millionUSD), peppers (7.5 million USD), rice (5.9 million USD), rubber (3.2million USD) and other products like vegetables and fruit, tea, cassavaand sweet fennel (1 million USD).
With a population of more than 8million people, Israel is the most important consumer of Vietnamesecoffee in the Middle East as it has many coffee processing enterprisesto ship their products to regional markets as well as Europe andAmerica.
Last year, Vietnam’s coffee exports to the market accounted for 56 percent of total export value to Middle East.
Israelis also an important market for Vietnamese cashew nuts with its valuemaking up 30 percent of total export revenues to the Middle East.
Thecountry is also the third largest importer of seafood (around 20percent), rice (16 percent) and rubber (7 percent) and the fourthlargest importer of pepper (8 percent).
The VTO in Israelreported that the country has high demand for importing agriculturalproducts not only for domestic use but also for processing instant foodfor exports to the third countries.
Israel cannot grow thefarm produce that Vietnam exports to it even though it has high demandfor them, leading market analysts report.
Once the politicalunrest and conflict in the region is dealt with effectively, Vietnam’sagricultural exports to the country will jump significantly.
Thekey to the prospects for enhanced cooperation with Israel lies in thefact that it possesses advanced technologies, especially in agriculturalproduction and due to restricted land and labour forces, the countrycannot fully utilise the technology.
This provides a greatopportunity for the two nations to cooperate in agriculture, and Vietnamshould encourage Israeli businesses to transfer technology and findoutlet markets for agricultural products.
Experts are optimisticthat Vietnam and Israel have the potential for long-term sustainableagriculture cooperation to make full advantage of the opportunities andstrategies, which stimulates stronger development. The Ministry ofIndustry and Trade has devised measures on market development withIsrael, including agricultural and seafood demand at markets and exportmechanisms and export facilitation policies.
In addition, theministry has actively worked to expand export markets with Israel foragricultural and seafood products by reducing tax, opening market andremoving trade barriers through negotiations on Trans-PacificPartnership (TPP) agreement and the Vietnam-EU Free Trade Agreement(VEFTA).
It has also enhanced opportunities for finding potentialpartners and markets for businesses and updating them withprotectionism, trade barriers and trade lawsuits of import markets.-VNA
Two-way trade turnover between Vietnam and Israel has steadily been accelerating over the past years.
Accordingto the Vietnam Trade Office (VTO) in Israel, the country principallyexports agricultural products, garments and electronic equipment whileit imports fertiliser, machinery, equipment and electronic parts fromIsrael.
In the first six months of the year, Vietnam’sagricultural exports to Israel dipped 6 percent compared to the sameperiod last year to 45.7 million USD and accounted for 13 percent of theVietnam’s total export revenues.
Vietnam Customs’ statisticsreflect that agricultural exports to Israel for last year were 100million USD, comprising 27 percent of the country’s total exports toIsrael.
Major agricultural export products included seafood(42.4 million USD), coffee (25.9 million USD), cashew nuts (23.8 millionUSD), peppers (7.5 million USD), rice (5.9 million USD), rubber (3.2million USD) and other products like vegetables and fruit, tea, cassavaand sweet fennel (1 million USD).
With a population of more than 8million people, Israel is the most important consumer of Vietnamesecoffee in the Middle East as it has many coffee processing enterprisesto ship their products to regional markets as well as Europe andAmerica.
Last year, Vietnam’s coffee exports to the market accounted for 56 percent of total export value to Middle East.
Israelis also an important market for Vietnamese cashew nuts with its valuemaking up 30 percent of total export revenues to the Middle East.
Thecountry is also the third largest importer of seafood (around 20percent), rice (16 percent) and rubber (7 percent) and the fourthlargest importer of pepper (8 percent).
The VTO in Israelreported that the country has high demand for importing agriculturalproducts not only for domestic use but also for processing instant foodfor exports to the third countries.
Israel cannot grow thefarm produce that Vietnam exports to it even though it has high demandfor them, leading market analysts report.
Once the politicalunrest and conflict in the region is dealt with effectively, Vietnam’sagricultural exports to the country will jump significantly.
Thekey to the prospects for enhanced cooperation with Israel lies in thefact that it possesses advanced technologies, especially in agriculturalproduction and due to restricted land and labour forces, the countrycannot fully utilise the technology.
This provides a greatopportunity for the two nations to cooperate in agriculture, and Vietnamshould encourage Israeli businesses to transfer technology and findoutlet markets for agricultural products.
Experts are optimisticthat Vietnam and Israel have the potential for long-term sustainableagriculture cooperation to make full advantage of the opportunities andstrategies, which stimulates stronger development. The Ministry ofIndustry and Trade has devised measures on market development withIsrael, including agricultural and seafood demand at markets and exportmechanisms and export facilitation policies.
In addition, theministry has actively worked to expand export markets with Israel foragricultural and seafood products by reducing tax, opening market andremoving trade barriers through negotiations on Trans-PacificPartnership (TPP) agreement and the Vietnam-EU Free Trade Agreement(VEFTA).
It has also enhanced opportunities for finding potentialpartners and markets for businesses and updating them withprotectionism, trade barriers and trade lawsuits of import markets.-VNA
