Implementing the national program on trade promotion in 2022, with the goal of supporting Vietnamese enterprises to export and transfer technology to the Israeli market, November 3, 2022, Ministry of Industry and Trade (November 3, 2022) VIETNAM TRADE PROMOTION AGENCY) in collaboration with the Vietnamese Embassy and Trade Office in Israel and the Federation of Israeli Chambers of Commerce (FICC) organized the Vietnam – Israel Trade and Production Cooperation Conference. The seminar attracted the participation of more than 70 delegates from trade promotion organizations, representatives of local authorities and especially a large number of Vietnamese and Israeli businesses.
At the opening of the conference, Mr. Roy Roznek – member of the Presidential Council of the Federation of Israeli Chambers of Commerce (FICC) welcomed the Vietnamese delegation led by Mr. Le Hoang Tai – Deputy Director of the Trade Promotion Department – Ministry of Industry and Trade. be the team leader, along with representatives of the People’s Committee, departments, departments, branches of Quang Nam province and businesses/associations who came to Israel during this time. He highly appreciated the economic and trade relationship between Vietnam and Israel, and emphasized that there are many potentials for cooperation between the two countries in the future.
Speaking at the conference, Ambassador Extraordinary and Plenipotentiary and Plenipotentiary of Vietnam in Israel, Mr. Ly Duc Trung, assessed the coordination of the Federation of Israeli Chambers of Commerce (FICC), the Trade Promotion Agency and related units in organizing practical and effective programs for businesses of the two countries to meet and discuss directly about investment and business cooperation opportunities. As the representative agency of the Socialist Republic of Vietnam in Israel, the Embassy is committed to supporting businesses of the two countries in implementing trade and investment cooperation in order to contribute to promoting the relationship between the two countries. The bilateral relationship between the two countries has achieved its goals as planned.
Speaking at the conference, Mr. Le Hoang Tai – Deputy Director of Vietnam Trade Promotion Agency highly appreciated the active participation of the business communities of the two countries and emphasized:“Vietnam and Israel have great similarities. The two nations have overcome many difficulties and challenges to develop into two modern nations. Over the past 29 years since the official establishment of diplomatic relations, multifaceted cooperation between the two countries has developed strongly, especially in trade and high technology for agriculture and health, cooperation against the COVID-19 pandemic. 19. The prospect of relations between the two countries is very good, especially in the context that Vietnam is promoting digital transformation and Israel has many strengths in high-tech solutions.”
Mr. Le Thai Hoa – Commercial Counselor, Vietnam Trade Office in Israel has provided information on the recent situation of Vietnam – Israel trade cooperation. He said Israel is Vietnam’s 5th trading partner in West Asia and the country’s market is assessed as very potential for Vietnamese goods. Despite the difficulties caused by the COVID-19 pandemic, the relationship between the two countries in general and economic and trade relations in particular is still developing very strongly. Goods exported to Israel are mainly phone components, seafood, cashew nuts, coffee, shoes, pepper, textiles, etc. Imported goods from Israel are mainly electronic products and fertilizers of all kinds. Total bilateral trade turnover in 2021 will reach 1.8 billion USD, up 20% compared to 2020, of which export will reach 780 million USD, import will reach 1.1 billion USD. By the end of the first 9 months of 2022, the import and export turnover between Vietnam and Israel reached more than 1.6 billion USD, in recent years, Vietnam tends to have a trade deficit from Israel and continues to be Israel’s largest trading partner in Southeast Asia.
At the conference, in order for you to understand the specific information of the locality in Vietnam, Mr. Ho Quang Buu – Vice Chairman of the People’s Committee of Quang Nam province shared about the potential, local strengths in trade promotion and investment promotion. He hoped that through the trip, many Israeli enterprises in general and Vietnamese-Israeli enterprises in particular would learn and invest in Quang Nam province in fields of mutual interest such as industry and service, logistics, tourism and agriculture… Contributing to increasing trade turnover, helping economic, trade and investment cooperation between the two countries develop, gradually expand and promote strongly in the near future. Quang Nam province is committed to creating the best conditions and best support for Israeli investors and businesses to do business and invest in Quang Nam.
At the trade session after the Conference, with careful preparation and close coordination between the Department of Trade Promotion and Trade, the Embassy of Vietnam in Israel, The trade program took place successfully with the large participation of businesses of the two countries. Some Vietnamese enterprises were active in the session and had positive results, such as: Sea Farm Company Limited met 07 Israeli partners (including Grain Head, Metzer Group, Miki Oz Asakim, Guri AOO, Cohen Bros., G. Willi-Food, Agrinoze); Nghe An General Trading Company Limited met with 6 partners (including Metzer Group, Guri AOO, Miki Oz Asakim, Hamama Meir Trading, Grain Head, Sari Ahmad Hassan). On average, each remaining Vietnamese enterprise is arranged to connect, exchange business cooperation with 4-5 Israeli enterprises.
(Source: Vietnam Ministry of Industry and Trade)