E-commerce collaboration between Vietnam and Israel

In the presence of the President of Israel, representatives from the embassy, and other authorities, Chairman of the Vietnam E-commerce Association Steven Nguyen signed a contract on February 7 to assist Israel in growth. Along with officials from your government’s ministries, industries, and enterprises, Vietnam has a representative office in Israel

Mr. Steven Nguyen discussed the state and future of e-commerce between Vietnam and the rest of the globe in general as well as with Israel in particular, according to a reporter in Israel who attended the ceremony. Despite the challenges brought on by the Covid-19 outbreak, e-commerce is nevertheless seeing rapid growth. Consequently, strengthening ties with all of your worldwide acquaintances helps to raise the worth of global e-commerce.

When compared to 1.6 billion USD in 2020 and 1.2 billion USD in 2019, the bilateral trade turnover in 2021 still totals 1.8 billion USD. Vietnam is still Israel’s main commercial partner in Southeast Asia.

The Vietnam e-commerce organization is dedicated to assisting all Israeli companies with the expectation that they will expand together, with the aim of tripling the value of bilateral trade, in line with its commitment to support businesses internationally.

Israeli companies from a variety of industries, including Telit, IDE Technologies, K&S Advanced System, SRH The Bridge, B-EV Motors, and BDO Israel Group, attended the event.

The participants learned about Vietnam’s successes in socioeconomic development and tourism and had a chance to ask questions about the country’s prospects for investment and e-commerce.

Israeli business representatives have indicated an interest in Vietnam’s almost 100 million-person market, which has a lot of potential.

In terms of e-commerce, the two nations’ product structures are complementary rather than competitive. Israel leads the world in high-tech exports, whereas Vietnam is a well-known supplier of agricultural goods.

Israeli enterprises are interested in importing everything, including food, vehicles, and machinery.

The conference was a remarkable success, setting a new benchmark in the growth of e-commerce for the Vietnam E-commerce Association with the terms of both parties and several agreements.