Plan approved to implement Việt Nam – Israel FTA

Plan approved to implement Việt Nam – Israel FTA

The plan calls for stronger trade and investment promotion activities in Israel to inform Israeli businesses about Việt Nam’s investment climate and advantages, thereby expanding bilateral trade ties, attracting foreign investment into priority sectors and promoting Vietnamese goods to Israeli consumers and importers.

Workers produce footwear for export. — VNA/VNS Photo

Prime Minister Phạm Minh Chính has signed Decision No. 16/QĐ-TTg approving a plan to implement the Free Trade Agreement between Việt Nam and Israel (VIFTA), aiming to ensure the agreement is carried out fully and effectively.

Key tasks include stepping up communication and dissemination of information on VIFTA among central and local authorities, business associations, cooperatives and the business community through mass media, official portals, publications, radio and television programmes, training courses and seminars. These efforts are intended to raise awareness and understanding of the agreement’s commitments and implementation requirements.

Training will also be strengthened for State management officials and enterprises in areas such as taxation, rules of origin, access to the Israeli market, investment, services, customs procedures, government procurement, trade remedies and technical trade barriers. This will help ensure accurate understanding and effective utilisation of the agreement.

An information focal point on VIFTA will be established at the Ministry of Industry and Trade to provide guidance, clarify commitments and address related issues. At the same time, Việt Nam will reinforce information networks, improve capacity and enhance market intelligence and forecasting on Israel and the domestic market, enabling Vietnamese enterprises to keep abreast of technical requirements and import-export regulations in Israel.

The plan also calls for stronger trade and investment promotion activities in Israel to inform Israeli businesses about Việt Nam’s investment climate and advantages, thereby expanding bilateral trade ties, attracting foreign investment into priority sectors and promoting Vietnamese goods to Israeli consumers and importers.

In addition, relevant ministries and sectors will continue reviewing the legal framework during implementation and propose amendments or supplements to ensure consistency with VIFTA commitments, in line with the agreed roadmap. Necessary institutional arrangements will be completed, including the designation of national and sectoral focal points, participation in the VIFTA Joint Committee and subcommittees, coordination of technical assistance from Israel, and fulfilment of notification obligations.

Support programmes will be developed to enhance the competitiveness of industries and enterprises, particularly micro, small, and medium-sized firms and start-ups, while response measures will be prepared for sectors directly affected by the agreement. Việt Nam will also promote links between domestic enterprises and Israeli-invested firms to integrate into production networks and supply chains, advance mutual recognition of conformity assessment results, and support Vietnamese exporters in meeting Israel’s specific standards, including Halal requirements. 

Bizhub