Vietnam And Israel To Implement Bilateral Free Trade Agreement

Vietnam recently stated that it will continue to collaborate closely with Israel in order to negotiate and implement their bilateral free trade agreement (FTA). Nguyen Hong Dien, the former minister of industry and trade, met with Israel's ambassador to the country, Yaron Mayer, in Hanoi.

To facilitate import and export, Dien advocated establishing systems for information sharing between agencies on both sides regarding policies, technical standards, and regulations applicable to a variety of import and export commodities.

Based on a news source, he also urged for increased cooperation in high-tech equipment, biotechnology, agricultural product processing, food, and other promising industries where the two countries are strong.

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

Vietnam's third largest export market and fifth largest trading partner in West Asia is Israel.

Vietnam's exports to Israel will now comprise clothing and textiles.