Vietnam to work closely with Israel to sign, enforce bilateral FTA

  • 23-May-2023
  • Vietnam to work closely with Israel to sign, enforce bilateral FTA

Vietnam has declared that it would keep up its close cooperation with Israel in order to finalise and implement their bilateral free trade agreement (FTA). Nguyen Hong Dien, the former country's minister of industry and trade, met Yaron Mayer, the Israeli ambassador, in Hanoi.

In order to facilitate import and export, Dien suggested creating channels for information sharing between agencies on both sides regarding policies, technical standards, and laws related to a variety of import and export commodities.

A news agency said that he also urged for greater cooperation in high-tech products, biotechnology, agricultural product processing, food, and other promising industries where the two countries are strong.

According to him, Vietnam supports Israeli companies investing more in industrial production, biotechnology, information technology, new material technology, consumer goods and food industries, start-ups, vocational training, knowledge transfer, and high technology development.

However, Israel is Vietnam's fifth-largest commercial partner in West Asia and its third-largest export market. Vietnamese textiles and apparel are exported to Israel.

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