Israel-Vietnam Chamber of Commerce was approved

The Federation of Israeli Bi-National Chambers of Commerce approved last week the setting up the new Israel-Vietnam Chamber of Commerce
27.02.06 / 00:00
Israel-Vietnam Chamber of Commerce was approved
27.02.06
Israel-Vietnam Chamber of Commerce was approved
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The Federation of Israeli Bi-National Chambers of Commerce approved last week the setting up the new Israel-Vietnam Chamber of Commerce.
 
With the opening of the new bi-national chamber it is expected that bilateral trade will further expand. In 2005 total bilateral trade with Vietnam totaled $90 million.
 
Vietnamwas added last month to the Ministry of Trade & Industry list of countries with preferred trading status.
 
The Ministry of Industry, Trade and Labor’s Foreign Trade Administration reported last week that Vietnam has the third largest economy in the Asian sub continent after China and India, with annual growth rate of 7% but a low GDP per capita rate ($500-$600) a year, and as such has high potential for development.
 
It is also understood that Vietnam will open an embassy in Israel the near future.

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