Vietnam PM urges soon conclusion of trade deal with Israel

Both Vietnam and Israel need to speed up and finalize the negotiations on the Vietnam – Israel Free Trade Agreement (VIFTA), according to Prime Minister Nguyen Xuan Phuc.

Prime Minister Nguyen Xuan Phuc (right) and Israeli Ambassador to Vietnam Nadav Eshcar (left). Source: VGP.

The two sides should target to triple bilateral trade by 2025, and push for more trade promotion activities and frequent exchanges of business delegations, said Mr. Phuc at a meeting with Israeli Ambassador to Vietnam Nadav Eshcar on October 7.

Additionally, Vietnam seeks Israel’s support for innovation and startups, a field that the latter has broad expertise in, added Mr. Phuc.

According to Mr. Phuc, Vietnam is giving high priority to agricultural development, especially in hi-tech farming. The Vietnamese PM highly regarded effective cooperation between the two sides in water management, a sector in which Vietnam is in need of expertise.

Mr. Phuc hoped Israel to continue receiving Vietnamese trainees in agriculture, following the success of the current agricultural  apprenticeship training program with the participation of 635 Vietnamese trainees in 2020.

Delegates at the meeting. Source: VGP.

On September 25, over 300 interns from Vietnam arrived in Israel following the previous graduation of 300.

Mr. Phuc is hopeful of the soon opening of a direct flight route between Vietnam and Israel, saying this would no doubt be a boost for bilateral relations.

Israeli Ambassador Nadav Eshcar expressed his impression of Vietnam’s efforts to fight against the Covid-19 pandemic, saying Israel could learn from Vietnam’s experience in dealing with its own second infection wave.

The ambassador shared the view on the necessity of a bilateral trade deal and a direct flight between Hanoi and Tel Aviv for greater cooperation in trade, investment and exchange activities.

Despite the Covid-19 pandemic, two-way trade stood at US$791 million in the first six months of this year.