Viet Nam to increase Trade Cooperation With Israel

Total bilateral trade between Vietnam and Israel averaged over 1.6 billion USD/year between 2018 and 2022. But this figure could reach five billion USD, according to information relayed at the Vietnam - Israel Business and Economic Forum.

The two countries have immense cooperation potential in biotechnology, climate change responses, electronic technology, smart agriculture, and cyber security. In addition, many food, electronic, and household items are currently being exported to Israel, making the country the third-largest importer of Vietnamese products in the Middle East.

Trade cooperation between the two countries is expected to increase with the newly signed free trade agreement. Vietnam is also the first Southeast Asian country with whom Israel has signed a free trade deal.