March 29, 2019 | 21:17 (GMT+7)
Vietnam enjoys trade surplus with Israel
Two-way trade between Vietnam and Israel hit USD 131.29 million in the first two months of 2019, with Vietnam enjoying a trade surplus worth USD 77.47 million.
According to Vietnamese Trade Counselor in Israel Le Thai Hoa, Vietnam earned USD 54.51 million from exports to Israel in February alone, raising Vietnam’s export revenue to the Middle East market to USD 104.38 million.
Vietnam’s main exports to Israel include mobile phones and components, aquatic products, cashew nuts, footwear, garment-textile and coffee. Notably, Vietnamese rice has entered the market and holds great potential to meet demands of Asian workers and people living in Israel.
Meanwhile, Vietnam’s imports from Israel hit USD 13.32 million in February, bringing the figure in the first two months to USD 26.91 million, with major products fertilizer, machines and farm produce.
Israel is currently among Vietnam’s top partners in the Middle East in terms of economic and science-technology cooperation.
In 2018, the two countries held various activities to commemorate the 25th founding anniversary of diplomatic ties. Two-way trade surpassed USD 1.2 billion last year as many of Vietnam’s staples gained footholds in the Israeli market.
A bilateral free trade agreement is under negotiation and is expected to be inked shortly, in hope of lifting two-way trade to USD 3 billion.
Source: VNA