Vietnam, Israel hope to hit 3 billion USD in trade: forum
The trade revenue between Vietnam and Israel is expected to hit 3-4 billion USD soon, and even higher in the years to come, thanks to their agreements and commitments to trade liberalisation, heard a forum in Hanoi on August 16.
Vietnamese Minister of Industry and Trade Nguyen Hong Dien speaks at the forum. (Photo: VNA)
Hanoi (VNA) – The trade revenue betweenVietnam and Israel is expected to hit 3-4 billion USD soon, and even higher inthe years to come, thanks to their agreements and commitments to tradeliberalisation, heard a forum in Hanoi on August 16.
The Vietnam-Israel Business Forum was co-chaired byVietnamese Minister of Industry and Trade Nguyen Hong Dien and Israeli Ministerof Economy and Industry Nir Barkat.
In his remarks, Dien said the recently signed Vietnam-IsraelFree Trade Agreement (VIFTA) will contribute to bringing about great interestand opportunity to the businesses of both countries.
Israel is a leading partner of Vietnam in West Asiain terms of trade, investment and labour, he said, noting that their bilateraltrade jumped from 1.2 billion USD in 2019 to 2.2 billion USD last year.
The official highlighted their cooperation inagriculture with an agreement reached in 1997, and Israel’s support to Vietnamin personnel training in science-technology.
Trade between Vietnam and Israel jumps from 1.2 billion USD in 2019 to 2.2 billion USD last year. (Photo: VNA)
As of July 20, 2023, Israel ran 40 FDI projects worthover 140 million USD in Vietnam, ranking 47th among the 148countries and territories investing in the country.
Notably, Israel is Vietnam’s fifth largest trade partner andthird largest importer in the Middle East. It ranks 33rd among more than 200countries and territories that have trade ties with the Southeast Asian nation.
The two economies are reciprocal, he said, suggesting that withtheir strengths in science and technology, Israeli enterprises should launch newprojects in Vietnam soon, especially in the areas where Vietnam is offeringmany incentives like electronics, industrial, chemicals and energy.
Through Vietnam, a market of approximate 100 million consumers,Israeli goods can access other markets in the Association of Southeast AsianNations (ASEAN), Asia-Pacific, and other major economies in the 16 FTAs inwhich Vietnam is a signatory, that includes nearly 6 billion consumers.
According to Tran Quang Huy, Director of the Ministry ofIndustry and Trade's Asian-African Market Department, ample room remains forthe two countries to boost economic and trade ties.
He suggested their business communities step up trade promotionactivities, saying the ministry and its relevant agencies will pay moreattention to the work in the time ahead.
The signing of a cooperation document at the forum. (Photo: VNA)
Within the framework of the forum, participants witnessed thesigning of some memoranda of understanding between Vietnamese and Israelifirms./.
The Vietnam-Israel Free Trade Agreement, which was signed on July 26 after seven years of negotiations, would create a conducive atmosphere for the export of Vietnamese products to Israel, according to many experts.
The Vietnam - Israel Free Trade Agreement (VIFTA), which was signed last month, has opened up new opportunities for Vietnamese goods to enter an important market in the Middle East.
With the recently-signed bilateral free trade agreement (FTA), Vietnam begins to be a big player on Israel’s investment map, Israeli Minister of Economy and Industry Nir Barkat affirmed on August 16.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Vietnamese Minister of Industry and Trade Nguyen Hong Dien speaks at the forum. (Photo: VNA) 
Trade between Vietnam and Israel jumps from 1.2 billion USD in 2019 to 2.2 billion USD last year. (Photo: VNA) 
The signing of a cooperation document at the forum. (Photo: VNA) 
