Israeli businesses expressed their interest in seeking more goods supply sources from Vietnam to meet the demand of domestic consumers at a trade promotion and business connection event in Tel Aviv on June 4.
They showed high demand for importing a number of products from Vietnam such as rice and processed products, soft drinks, fruit juices, sauces of all kinds, seafood, confectionery, dried and canned fruits, as well as electronic household appliances, construction materials, cosmetics, and protective equipment.
The firms underlined that imported products must have Kosher certificate to ensure that they are suitable to the practice of Jewish consumers, and meet quality standards of Europe and the US, especially in food safety.
At the event, which was held by the Vietnamese Trade Office in Israel and the Federation of Israeli Chambers of Commerce (FICC) and gathered 30 Israeli firms, Director of the FICC’s International Relations and Business Development Department Sarit Fishbane said that amid the Israel-Hamas conflict, the Red Sea crisis and the Israel-Türkiye trade conflict, Israel is seeking more supply sources of goods to replace the broken ones.
She said that Israel is focusing on finding suppliers from Asia in general and Vietnam in particular for domestic consumption.
Vietnamese Trade Counsellor Le Thai Hoa briefed participants on the socio-economic development, foreign trade and strengths of Vietnam as well as the structure of import-export products between the two countries and the prospect for two-way trade.
Hoa pointed to opportunities from the Vietnam-Israel Free Trade Agreement, which was approved by the two sides in early 2024 and is scheduled to become effective later this year.
At the event, the Vietnamese Trade Office in Israel introduced a number of Vietnamese exporters of agricultural and aquatic products, beverage and construction materials to Israeli firms to conduct detail transactions.
Statistics showed that in the first five months of 2024, trade between Vietnam and Israel reached about 1.1 billion USD, including 380 million USD worth of Vietnam’s exports.
