Vietnam viewed as important partner on Israel’s investment map
VOV.VN - Israeli Minister of Economy and Industry Nir Barkat has affirmed that through the recently-signed Vietnam-Israel Bilateral Free Trade Agreement (VIFTA), the nation has begun to become an important partner on the investment map of Israel.
Discussing his recent visit to the country from August 13 to August 17 with the media , Minister Barkat stated that after 30 years since the establishment of diplomatic relations, both sides share plenty of common points
Most notably, both countries are seeking global co-operation through FTAs around the world and the two governments are aware of enormous collaboration opportunities. Both sides have swiftly implemented free trade agreements and broad co-operation with many countries and territories globally.
The Israeli trade official said that the two governments could clearly see that through 30 years of developing diplomatic ties, there are opportunities for the two sides to further boost co-operation moving forward, with the VIFTA being a testament to that.
According to Minister Barkat, the VIFTA, which was signed in Tel Aviv on July 25, is proof of the sound bilateral relationship that has existed for over the past three decades. He expressed his belief that the deal is expected to open up plenty of opportunities to bring further benefits to both economies.
The Israeli Minister noted that Minister of Industry and Trade Nguyen Hong Dien confirmed to him that there will soon be a direct flight between the two countries, with this being one of the first results of the VIFTA.
According to the Israeli Minister of Economy and Industry, this marks "a major breakthrough" in the bilateral relationship.
Previously, at the Vietnam-Israel Business Forum held in Ho Chi Minh City on August 15, the Israeli Minister also proposed opening a direct flight between Ho Chi Minh City and Israel.
Minister Barkat emphasized that once electronic visas (e-visas) and direct flights are launched, the two countries will enjoy growth in tourism and trade co-operation, as well as other areas. Simultaneously, many Vietnamese products will be exported to Israel and many Israeli technologies will be brought into the Vietnamese market.
The Minister added that the seven economic clusters which Israel is focusing on are high technology, homeland security, Industry 4.0 technology, health care-life science, agricultural technology and food, and tourism.
He also proposed that the two countries set up joint venture companies in the nation, in which Israel is in charge of technology and the Vietnamese side is responsible for marketing and development, as well as setting up a co-operation fund.
According to Minister Barkat, the Vietnamese market is not only home to more than 100 million people and one of the fastest growing economies in the world, but is also a gateway to ASEAN and South Asia, thereby creating "huge opportunities" for Israel.
Regarding challenges in bilateral trade, Minister Barkat emphasised that both Vietnamese and Israeli businesses have shown joy and optimism about the future.
