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.
