New fight route connecting Hanoi, Tel Aviv to run in September-end
In 2022, Vietnam-Israel bilateral trade increased by 18% on-year to US$2.2 billion.
Hanoi and the Israeli capital city of Tel Aviv will have a direct flight set up at the end of September 2023, said Minister of Industry and Trade Nguyen Hong Dien on August 16.
|Vietnamese Minister of Industry and Trade Nguyen Hong Dien delivers his remarks at the Vietnam-Israel Business Forum on August 16. Photo: Tu Anh/The Hanoi Times|
In December 2020, Vietnam and Israel signed a protocol that amends the bilateral aviation transport. The protocol includes the establishment of a direct flight route to connect the two nations.
At the moment, a connecting flight is required to travel between Vietnam and Israel. Passengers must transit to at least one destination, such as Hong Kong, Istanbul, or Frankfurt. The traveling time may range from 15 hours to 47 hours.
"As Vietnam begins to issue e-visa for migrants of all nationalities starting on August 15, Vietnam-Israel bilateral trade and tourism activities will soar," the minister told the Vietnam-Israel Business Forum.
He expected that with technological advancements, Israeli enterprises would soon come and operate in Vietnam, especially high-tech activities, biotech, electronics, and food production.
Nir Barkat, Israeli Minister of Economy and Industry, said a direct flight would mark an important milestone in the relations between the two nations.
He said the direct route would facilitate the two nations' growth in tourism, business operation and others and increase product, expertise and technology exchange.
The Israeli minister also said that the bilateral relations have grown stronger after 30 years, and the two countries will see further development.
The signing of the Vietnam-Israel Free Trade Agreement in July 2023 will foster bilateral trade, and now, the direct flight route and e-visa issuance will lift it, he said.
Israel now focuses on seven major economic sectors, bringing the country comparative advantages globally. These sectors relate to homeland security, hi-tech development, and the adoption of technological advancements in productivity improvement, desert-based economy, agriculture, food production, tourism, and healthcare and domestic activities.
To Israel, Vietnam is a potential market with an impressive growth rate and the gate to tap into ASEAN and international markets through its 16 FTAs, Israeli minister Nir said.
Based on the technologies provided by Israeli companies, Vietnamese partners will do marketing and sale on expectations that the combination will match the conditions of other regional markets, he said.
The minister suggested that the two governments form a joint fund to support local businesses of both nations, as Israel has done the same with Canada and the US.
In 2022, Vietnam-Israel bilateral trade increased by 18% on-year to US$2.2 billion. Vietnam's imports from Israel almost doubled from 2021 to US$656.5 million in 2022.
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