Hanoi (VNA) – With the recently-signed bilateral free trade agreement (FTA), Vietnambegins to be a big player on Israel’s investment map, IsraeliMinister of Economy and Industry Nir Barkat affirmed on August 16.

Speaking at a pressconference in Hanoi, the official further said the two countries “have many things in common” 30 years after the establishment of their diplomatic ties (July 12, 1993).

Notably, bothcountries are seeking global collaboration through FTAs around the world, and theirgovernments have been aware of big cooperation opportunities, he elaborated.

Barkat described the FTA inked in Tel Aviv on July 25 as a testimony for the good bilateralrelationship over the past three decades, and called the FTA "one of thefastest deals ever done" that will open up many opportunities and benefit botheconomies.

“And today, Vietnamese Minister ofIndustry and Trade Nguyen Hong Dien told us that we are going to have directflights between Vietnam and Israel,” Barkat said, describing it “a huge milestone” in the relationship.

At the Vietnam-Israel Business Forum inHo Chi Minh City on August 15, the Israel minister also suggested launching adirect air route between the southern metropolis and Israel.

He stressed once e-visas and directflights are launched, the two countries will see growth in cooperation intourism and trade and other spheres, adding more Vietnamese products will beshipped to Israel while more technologies will come to Vietnam from Israel.

Barkat highlighted the seven business clusters onwhich Israel is focusing that are high-tech, homeland security, Industry 4.0,health care, life sciences, agrifood tech, and tourism, and suggested the twocountries expand collaboration in these sectors.

He also suggested the two countries establish jointventures in Vietnam, where Israel brings technologies while the Vietnameseside is in charge of marketing and development, and create a collaborationfund.

Vietnam is not just a country of some 100 million peopleand one of the fastest growing economies, Barkat said, adding it is actually a gateway to theAssociation of Southeast Asian Nations (ASEAN) and South Asia, which is a “bigopportunity" for Israel.

Moreover, the Vietnamese government is really opento listen and to partner, he commented.

The minister noted his belief that the smartstrategy that the Vietnamese government is taking to position itself willcreate big opportunities for both Vietnam and Israel.

Regarding challenges to the bilateral trade, he stressed bothVietnamese and Israeli businesses have expressed their happiness and optimism forthe future and said: “Where there's a will, there's a way"./.