PM Nguyen Xuan Phuc and Israeli President Reuven R.Rivlin at the Government Headquarters in Hanoi on March 20. Photo: VGP

The Government chief made the statement during his meeting with Israeli President Reuven R.Rivlin who is on a week-long visit to Vietnam.

He asked the two countries to double efforts to soon lift up the two-way trade volume to US$3 billion from the current US$1.3 billion through facilitating businessnes to seek investment opportunities and encouraging trade promotion and policy-related information exchanges.

The two sides also need to continue talks on the bilateral free trade agreement as planned to create a long-term cooperation framework.

PM Phuc suggested that Israel consider granting preferential funding to projects on infrastructure development, poverty reduction, rural and agriculture development, human resource development, natural disaster management.

Both sides should beef up science and technology cooperation as a key pillar of the bilateral ties, in which priorities should be given to high-tech agriculture while fostering defense and security cooperation, including defense industry, said the PM.

PM Phuc also expects Israel to share its start-up nation experience and send experts to Vietnam to help production facilities and universities in this field.

President Reuven R.Rivlin voiced his support for Vietnam’s development, saying Israel regards Vietnam as an important member of ASEAN.

The President also urged the two countries to speed up the free trade agreement talks.