Trade with Israel surges 53 per cent in H1
Trade with Israel surges 53 per cent in H1
Trade between Viet Nam and Israel increased significantly during the first half of this year, reaching US$426 million or increasing 53 per cent year-on-year.
According to the Ministry of Industry and Trade's of Africa-West-South Asia Markets Department, of the total, Viet Nam exported $261 million worth of goods to Israel.
These included mobile phones and components ($190 million), seafood products ($22 million), and footwear ($15 million). Meanwhile, it mainly imported fertilisers, machinery and equipment from the country.
According to trade experts, Israel was considered a lucrative market for Vietnamese exporters in the Middle East. Currently, Israel was Viet Nam's fourth largest trading partner in the bloc, trailing behind the United Arab Emirates (UAE), Turkey, and Saudi Arabia.
At a meeting in Ha Noi earlier this week, delegates heard that besides trade, bilateral co-operation in agriculture between the two countries, also had scope to develop further.
During a Viet Nam - Israel Agriculture Business Forum, the Viet Nam Chamber of Commerce and Industry (VCCI) Vice Chairman Dao Duy Khuong praised Israel's development of science and technology in the agriculture sector.
He suggested that both nations devise common mechanisms and streamline administrative formalities in order to facilitate businesses.
The Israeli Ambassador to Viet Nam, Meirav Eilon Shahar said Israel was keen on expanding co-operation in agriculture with Viet Nam.
She said this co-operation would support expanded business partnerships and expressed her hope that the two governments would work closely to create the best possible conditions for growth in their respective businesses.
According to VCCI, Viet Nam's agriculture has shown strong growth over the past two decades and the country's agro-forestry and fishery products are now shipped to 160 countries worldwide.
Meanwhile, Israel boasts of advanced agriculture that uses state-of-the-art technology.
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