Israel’s Foreign Minister Eli Cohen met in Jerusalem on Monday with visiting Vietnamese Deputy Prime Minister (one of four) Tran Luu Quang. The two marked 30 years of relations between their nations and made preparations for the signing of a free trade agreement between Israel and Vietnam.
Cohen said that trade between the countries reached $2 billion last year and that the new agreement will promote the Israeli economy and lower import costs.
The two also talked about expanding bilateral ties, which Cohen said will increase trade, tourism and cooperation.
Jerusalem and Hanoi recently completed 12 rounds of free trade negotiations that spanned seven years.
Vietnam’s largest exports to Israel include smartphones, footwear and seafood, while it imports primarily electronics and fertilizer.