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.

Since the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020, most commitments in the agreement have been implemented and left positive impacts on business activities, especially trade, said Do Viet Ha of the Trade Office of the Vietnamese Embassy in Germany.

Vietnam’s agro-forestry-aquatic product exports raked in US$29.13 billion in the first seven months of 2023, while its imports reached US$23.25 billion, resulting in a trade surplus of US$5.88 billion, up 3.4% year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported.

VOV.VN - Egypt is willing to create favourable conditions for Vietnamese businesses to come and operate efficiently in the country, Prime Minister Mostafa Madbouly told Vietnamese Deputy Prime Minister Tran Luu Quang during their talks in Cairo on July 27.

VOV.VN - Vietnam and Israel signed a bilateral free trade agreement in Jerusalem on July 25, creating a legal corridor for the two countries to promote economic development and trade exchanges.

VOV.VN - Vietnam and Israel should increase the exchange of high-level visits to help further multifaceted cooperation between the two countries, suggested Vietnamese Deputy Prime Minister Tran Luu Quang while playing a courtesy visit to Israeli President Isaac Herzog on July 25.

Leaders of Vietnamese localities are more open to business opportunities, showing greater interest in seeking good technologies and economic development opportunities without being concerned about personal economic benefits or political advancement.

Although the export of goods has faced many difficulties, there have been encouraging signals in the past two months as enterprises and state management agencies have been actively implementing solutions to regain export momentum.

VOV.VN - President Vo Van Thuong and his Austrian counterpart Alexander Van der Bellen compared notes on a score of measures to deepen the bilateral friendship and all-around cooperation during their talks in Vienna on July 24.

It is necessary to further step up trade promotion activities and disseminate information to the business community about the benefits of the EU-Vietnam Free Trade Agreement (EVFTA) to take advantage of strengths of both Vietnam and Austria to further boost bilateral trade ties.