Vietnam optimises trade ties with Israel

The Foreign Ministry will organise additional activities to boost commercial connectivity between Vietnamese localities and enterprises and their Israel partners. 

Foreign Deputy Minister Le Hoai Trung made the statement during a conference dubbed “Meet Israel”. The meeting was held in Hanoi on November 5 gathering 130 representatives of provincial agencies and businesses from both countries. 

According to the Deputy Minister, the bond between Vietnam and Israel has grown substantially since it was established in 1993. 

A fivefold increase was recorded in two-way trade revenue within the last five years, from US$200 million in 2009 to almost US$1.1 billion in 2014. Bilateral partnership has been forged and expanded, particularly in science and technology. 

Vietnamese Ambassador to Israel Cao Tran Quoc Hai said Vingroup, TH True Milk and Hoang Anh Gia Lai are among leading Vietnamese businesses, who are applying technology transferred from Israel to improve agricultural produce quality. They have achieved positive outcomes thus far. 

Meanwhile, Israel’s drip irrigation technology, male shrimp breeding production and medical equipment are capturing the interest of Vietnamese firms, added the diplomat. 

Agreeing with the Vietnamese officials, Israeli Ambassador to Vietnam Meirav Eilon Shahar expected the two countries’ localities and businesses would advance their cooperation in trade and investment to fully tap their potential.

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