Minister of Trade and Commerce Nguyen Hong Dien in a gathering with Embassy of Israel in Vietnam
Concerning different bilateral commerce issues, Minister Dien advised the 2 international locations proceed to strengthen cooperation in commerce and funding promotion and sending enterprise delegations to one another’s commerce and funding promotion occasions. He proposed constructing mechanisms for data sharing between businesses of the 2 international locations on insurance policies, technical requirements and rules utilized to numerous import and export commodities to facilitate import and export items of each side.
He additionally referred to as for stronger cooperation in high-tech gear, biotechnology, agricultural product processing, meals and different potential fields through which the 2 international locations have strengths.
The minister shared that Vietnam encourages Israeli companies to speculate extra in industrial manufacturing, biotechnology, data know-how, new materials know-how, client items and meals industries, start-ups, vocational coaching, know-how switch and growth of excessive know-how in Vietnam.
Israel is presently the third largest export market and the fifth largest buying and selling companion of Vietnam in West Asia and is taken into account a big and potential marketplace for Vietnamese items in West Asia.
Vietnam primarily exports merchandise reminiscent of telephones and parts, seafood, cashew nuts, espresso, sneakers, pepper, garment and textiles, wooden and wooden merchandise to Israel.
It imports computer systems, digital merchandise and parts, equipment, gear and spare elements, fertilizers, greens and fruits from the West Asian nation.