Official describes VIFTA as new driving force for Vietnam – Israel trade

The Vietnam – Israel Free Trade Agreement (VIFTA), which officially took effect in November 2024, has given a significant boost to bilateral trade, with the turnover estimated at over 3.7 billion USD in 2025, according to Vietnamese Trade Counsellor in Israel Le Thai Hoa. In the very first year of implementation, Israel eliminated more than 66% of tariff lines and will gradually raise the liberalisation rate to nearly 93%, while Vietnam has committed to cutting nearly 86% of tariff lines by the end of the roadmap. These substantive tariff preferences have quickly encouraged businesses from both countries to expand transactions, which have been translated directly into tangible trade growth, Hoa told the Vietnam News Agency. VNA Photo: Thanh Bình