Vietnam has recently concluded negotiations on the Vietnam-Israel Free Trade Agreement (VIFTA) after 7 years of talks. This paves the way for significant opportunities for businesses to enhance their exports to the West Asian market.
- Overview of the VIFTA
This is a high-quality and comprehensive agreement. The VIFTA contributes to enhancing bilateral economic and trade relations… By eliminating tariffs on goods, reducing non-tariff barriers, promoting trade in services, and investment. The objective of the bilateral negotiations aims to seek and promote opportunities for trade cooperation, investment,… Building and promoting brands at fairs and exhibitions organized in both countries.
- New opportunities for the export industry
Currently in Israel, Vietnamese seafood products have found a stable position. Particularly, tuna products have made Israel the 4th out of 10 major importers of Vietnamese tuna.
VIFTA is expected to bring forth significant export opportunities for Vietnamese goods,… with agricultural products standing out. VIFTA will create trading opportunities for businesses in both countries. Not only that, Vietnamese agricultural products also hold the potential for cooperation with the promising Middle East region in terms of benefits.
- Businesses need to seize the opportunity to explore the Western export market
To date, Vietnam has signed FTAs with over 60 economies worldwide. This diversifies Vietnam’s export market… reducing excessive reliance on a few markets. The addition of VIFTA serves as a launchpad for Vietnamese businesses to expand into new markets. Israeli businesses will show stronger interest in the Vietnamese market. This will have a positive impact on trade, investment, especially the exports of Vietnamese businesses.
About our company
HMLF is a Law Firm licensed to provide legal services to Enterprises. With over 70 years of experience in:
– Finance, Accounting, Tax.
– Industry: Manufacturing, Service, Aviation, Transport, Technology, Finance.
– Helping Customers control transactions from internal legal to international trade. Become the best legal defender for Businesses.
– Try to offer optimal solutions to bring customers satisfaction.
HMLF is always available to offer assistance in understanding the procedures with authorities.
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn Email: miller@hmlf.vn
