Vietnam and Israel on April 2 announced the conclusion of negotiations for their free trade agreement (FTA), creating a premise for the two countries to sign the deal right this year.
Vietnam and Israel announce the conclusion of the negotiations for their free trade agreement, which lasted for seven years with 12 rounds. (Photo: VNA)
Hanoi (VNA) – Vietnam and Israel on April 2 announced the conclusion of negotiations for their free trade agreement (FTA), creating a premise for the two countries to sign the deal right this year.
🔯 The announcement was made at a working session between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Israeli Minister of Economy and Industry Nir Barkat during the former’s ongoing visit to Israel.
Dien said with the reciprocal economies and growing two-way trade, the two countries will benefit much from the agreement, whose negotiations lasted seven years with 12 rounds.
He suggested the two sides step up coordination and delegation exchange to seek and promote cooperation opportunities in trade and investment, and encouraged Israel’s businesses to invest in Vietnam in such areas as industry, high-tech agriculture, IT, green production and industrial infrastructure.
Dien also called on Israel to share its experience and technology in digital economy, digital transformation and energy transition.
For his part, Barkat agreed to continue with cooperation and exchange activities between the two ministries, as well as trade promotion programmes in order to facilitate the operation of their enterprises, enabling them to optimise the VIFTA once it is put into place.
According to the Vietnamese Ministry of Industry and Trade, Israel is Vietnam’s third biggest importer and fifth largest trade partner in West Asia.
🤪 Last year, the bilateral trade reached 2.2 billion USD, up 17.9% year-on-year, of which Vietnam’s export was valued at 785.7 million USD and its import hit 1.4 billion USD./.
A Vietnamese business delegation made a trip to Israel on November 3-4 during which they attended a Vietnam-Israel conference on production and trade cooperation in Tel Aviv.
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The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Vietnam and Israel announce the conclusion of the negotiations for their free trade agreement, which lasted for seven years with 12 rounds. (Photo: VNA) 
