The two-way trade between Vietnam and Israel in 2025 is estimated to reach over $3.75 billion, heard a conference held last week to discuss prospects from the Free Trade Agreement between the two countries.
Of the total, Vietnam’s exports to Israel are projected to reach $850-880 million, up 10% year-on-year.
After more than a year of implementation, the Vietnam - Israel Free Trade Agreement (VIFTA) has shown positive signs, becoming a new driving force to promote trade, investment and technological cooperation between the two countries, according to participants at the workshop.
Ms. Nguyen Thi Lan Phuong from the Department of Multilateral Trade Policy (Ministry of Industry and Trade) said that VIFTA has a remarkable level of commitment, especially in the field of trade in goods. As soon as the Agreement came into effect, Israel has eliminated 66.3% of tariff lines for Vietnamese goods; by the end of the roadmap, this rate reached 92.7%. Meanwhile, Vietnam has eliminated about 85.7% of tariff lines.
These commitments create conditions for Vietnamese products with strengths such as footwear, textiles, electronics, machinery, and agricultural products to enter the Israeli market more easily.
Ms. Do Thi Thuy Huong, Vice President of the Viet Nam Association of Supporting Industries, said that VIFTA has opened up huge opportunities in terms of exports, technology access and supply chain connections. Israel is a world-leading country in high technology, especially in semiconductors, medical equipment, cyber security and IoT.
Vietnam’s Commercial Counselor in Israel Le Thai Hoa said that the Viet Nam Trade Office in Israel will continue to disseminate the contents of the VIFTA Agreement to local businesses; connect Israeli importers with Vietnamese businesses; provide market information, technical standards, import policies; organize seminars, business delegations, specialized trade promotion events; support businesses in evaluating partners and implementing investment projects.
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