Vietnam declared preferred export target

14 Vietnamese officials and businesspeople arrived last week on a visit to Israel. The delegation, headed by Vietnam’s deputy minister of industry Do Nhu Dinh, was hosted by The Israel Export and International Cooperation Institute.
 
In a statement issued by the IEICI it's chairman David Arzi said that 26 Israel companies had begun operating in Vietnam last year, and that 125 were active their, 26% more companies than in 2003. Bilateral trade between Israel and Vietnam rose 46% to $76 million in 2004.
 
Israel’s exports to Vietnam in 2004 grew 59% to $28 million. The main export sectors were chemicals - 64%, machinery and equipment - 22%, and plastics - 7%. In 2005 total Israeli exports were projected to reach $31 million
 
Arzi noted that telecommunications export to Vietnam experienced in 2005 the largest export rise - 211% to $5.4 million. Food exports totaled $1.3 million, and chemical exports $4.3 million.
 
Ministry of Industry, Trade and Labor director-general Raanan Dinur met during the visit with Vietnam Deputy Minister of Trade Do Nhu Dinh. Dinur announced after the meeting that Vietnam had been declared a preferred target for Israeli exporters.
 
The Ministry of Industry, Trade and Labor will allocate a large marketing budget toward the increase of Israeli export activity, compared with the current small scale of bilateral trade between the two countries.
 
During the visit, the Export Institute will held a seminar on Vietnam as a target company.