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The ministers of Vietnam and Israel issued a statement on the conclusion of FTA negotiations between the two countries. |
According to the Office of the Ministry of Industry and Trade, a Vietnamese delegation led by Minister of Industry and Trade Nguyen Hong Dien have a working trip to Israel to unify the contents and an official announcement on the termination of VIFTA negotiations at the invitation of Minister of Economy and Industry of Israel Nir Barkat.
Speaking at the meeting this morning, Minister Nguyen Hong Dien said that thanks to a mutual complementary economic structure and growth in two-way trade turnover, the two countries will achieve more benefits from VIFTA.
Minister Nguyen Hong Dien also proposed the two sides strengthen coordination and exchange among ministries, departments, industry associations, enterprises and so on to jointly seek and promote cooperation opportunities in the fields of trade and investment, construction and advertisement of brands at fairs and exhibitions in both Vietnam and Israel.
Moreover, the minister desired that Vietnam would receive more investors from Israel in the sectors of industrial production, agriculture with high-tech applications, materials industry, information technology, green production, clean production and industrial infrastructure development investment.
The minister suggested Israel share experiences with his country in the field of the digital economy, digital transformation, energy transformation and so on.
Minister Nir Barkat agreed to continue to implement cooperation and exchange activities between the two ministries as well as enhance the programs of trade promotion, create favorable conditions for both enterprises of Israel and Vietnam in doing business and investment to take advantage of VIFTA’s commitments when the agreement is signed and valid.
The two sides have come to an agreement to announce the Free Trade Agreement between Vietnam and Israel after seven years with 12 sessions of negotiation.
The negotiation between the two countries has been finished and the two sides will soon implement the internal activities and final legal works to prepare for signing FTA between Vietnam and Israel which is expected to be implemented this year on the occasion of celebrating the 30th anniversary of diplomatic establishment between two countries.
