Israel and Vietnam sign FTA

After seven years of negotiations, Israel and Vietnam signed a free trade agreement to boost trade in goods. Vietnam is the second East Asian nation with which Israel has an FTA, after South Korea, and the first in the ASEAN trading bloc. The agreement will strengthen political and economic ties between the two countries, while facilitating activities for Israel businesses in the Vietnamese market, thereby reducing the cost of living for Israelis and lowering the cost of imports from Vietnam. The agreement will be ratified in the coming months.