Local enterprises advised to boost exports to Israel

Coffee is one of key export products of Việt Nam that will have the chance to enter the Israeli market. — Photo tapchicongthuong.vn

HÀ NỘI — Việt Nam’s enterprises should promote the transfer of technology from Israel to develop their businesses and also increase trade promotion activities to this market.

Lê Thái Hòa, deputy director of the Asia-Africa Market Department under the Ministry of Industry and Trade, said this at a seminar on trade promotion to Israel held by the Ministry of Industry and Trade in Hà Nội on Thursday. The seminar was aimed at updating Vietnamese enterprises with information about the Israeli market.

Hòa said in the field of agriculture, Israel is one of the countries with a developed agricultural sector so, Việt Nam can become a potential market for Israeli enterprises in the fields of manufacturing and production of high-tech agricultural machinery.

Key export products of Việt Nam will have the chance to enter the Israeli market, especially agricultural products such as rice, coffee, tea, and pepper, as well as furniture, garments and shoes.

Israel is an easy market but it still needs quality goods. The market does not have many customers, but their income is quite high. Consumers in this market segment demand high quality and reasonably priced goods, he said.

To enter the market quickly and efficiently, Vietnamese enterprises should participate in trade fairs. This is the best way for Israeli consumers to discover Vietnamese products, Hòa said.

In addition, local businesses need to coordinate with relevant agencies to organise advertisement progra妹妹es, trade promotions and seminars to advertise Vietnamese goods.

Lê Hoàng Tài, deputy head of the Việt Nam Trade Promotion Agency, said that since the establishment of diplomatic relations in  一 九 九 三, the two countries have established cooperative relations in many fields.

The bilateral trade value of Việt Nam and Israel increased from US$ 六 八 million in  二00 五 to some $ 一 billion in  二0 一 七, Tài said. Of this, Việt Nam exported goods and services worth $ 七00 million to Israel and saw imports worth $ 三 四 五 million from Israel.

By  二0 一 七, Israel had  二 六 direct investment projects in Việt Nam, with a total capital of over $ 四 七 million, ranking  一 一th out of  五 六 countries and territories investing in Việt Nam. These include seven projects in the manufacturing and processing industry with a total capital of some $ 二 五 million.

Meanwhile, Israel has co妹妹itted to providing a $ 二 五0 million credit package to Vietnamese businesses in the near future. — VNS