The visit, which will last until March 25, is hoped to furtherstrengthen and tighten Vietnam-Israel relations.
Vietnam and Israel established diplomatic ties on July 12, 1993.
Israel was one of the countriesrecognising Vietnam’s full market economy. The two sides are negotiating theVietnam-Israel Free Trade Agreement.
The two-way trade value hit 1.2 billion USD last year from only 68million USD in 2005.
Vietnam mainly exportedtelephones, spare parts, footwear, coffee, cashews, textiles, and aquaticproducts, while importing machinery, hi-tech equipments and fertilizer.
As of January 2017, Israel had 25valid projects in Vietnam with a total investment of 46.37 million USD, ranking56th among 116 countries and territories investing in Vietnam.
The Israeli side pledged 250million USD in credit support for Vietnamese enterprises that have businessconnection with Israeli counterparts.
The two countries also boastopportunities and great potential for cooperation in innovation and creativity,high-tech agriculture, and startup.
They are fostering links inagriculture, focusing on developing dairy cow breeding, and aquaculture. Israelsupported the implementation of hi-tech agricultural projects in manylocalities in Vietnam.
Vietnam and Israel are alsolooking towards expanding cooperation in science and technology, especiallyagricultural technology and biotechnology, water treatment, telecommunication,food safety, and health care.-VNA