Vietnam and Israel have agreed to strengthen their cooperation during the second meeting of the Vietnam-Israel inter-governmental committee for cooperation in economy, science, technology and other areas.

Minister of Science and Technology Chu Ngoc Anh (left) and Israeli Minister of Economy and Industry Eli Cohen.

The information was released by Vietnamese Minister of Science and Technology Chu Ngoc Anh, who co-chaired the meeting, during an interview with Vietnam News Agency’s correspondent in Tel Aviv, Israel, on the sidelines of the event.

The two sides noted with satisfaction the already fruitful cooperation between the two countries, with two-way trade increasing significantly during 2010-2016, he said.

They also began negotiations for a free trade agreement with three meetings and are preparing for the next round, he said, noting Israel has recognised Vietnam’s market economic status.

Both agreed that Vietnam and Israel hold a lot of potential for cooperation as the two economies are reciprocal.

At the meeting, they agreed to work together to raise bilateral trade to 3 billion USD as agreed by the two countries’ leaders and accelerate the signing of the trade deal, while seeking an agreement on labour cooperation.  

The two sides also set forth measures to implement a financial protocol.

Israel said the country stands ready to share its experience in launching and promoting start-ups.

They also agreed on measures to step up cooperation in technology, agriculture, navigation and development.

Anh said Vietnam and Israel will mark the 25th anniversary of their diplomatic ties in 2018 and the two sides will coordinate to implement cooperation programmes for the interests of each side.

According to the minister, during his trip to Israel, the two countries’ ministries of science and technology signed a memorandum of understanding on scientific and technological cooperation.

Vietnam’s National Technology Innovation Fund and the Israel Innovation Authority signed an agreement and will employ measures to call for joint projects and technology innovation projects.

Anh noted his hope that with Israel’s potential in technology, especially high-tech, and Vietnam’s capacity and preparations, bilateral scientific and technological cooperation will further develop.

VNA