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According to Vietnamese trade counsellor to the Middle East country Le Thai Hoa,
Vietnam exports an estimated 520 million USD to the country and splashes out
some 127 million USD on Israeli imports during January-August.
Despite formidable challenges in the Israeli market, Vietnam’s shipments to the
country are expected at over 800 million USD, and imports at around 200 million
USD for the whole year, he said.
Instable political situation in Israel has made Vietnamese enterprises feel
insecured to do business with their Israel partners. Therefore, Vietnamese
exports to the country fell slightly during January-July while imports dwindled
dramatically, mostly due to a drop in the purchase of Israeli computers and
electronic spare parts.
Hoa stressed as the two markets share complementary features, their products do
not directly complete with each other. In fact, most of Israeli imports are
strength of Vietnam’s exports. Many Israel firms have expressed their interest
in buying Vietnamese cashew, tuna, frozen shrimp, squid, beverage, garment,
footwear, consumer goods, and dried fruits.
Notably, footwear shipments to Israel in the seven-month period surged 31.8
percent year on year. Besides, Vietnamese rice and shrimp have gained a firm
foothold in the Israeli market. However, exports of seafood tapered off 32
percent as Israel started strengthening food safety measures on imports at the
end of 2018.
Source: VNA
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