A delegation of manufacturers will visit Vietnam and Korea at the end of the week as guests of the nations' government and business sectors. The visit is aimed at increasing business cooperation between these countries and Israel.
The delegation of 26 industrialists and businessmen is visiting the countries at the initiative of the Manufacturers Association. According to Manufacturers Association data, more than 100 Israeli companies currently trade with Korea, and 50 trade with Vietnam.
Moshe Nahum, director of the Manufacturers Association Foreign Trade and International Relations, said that the Israeli representatives will propose reactivating the Korea-Israel Joint Economic Committee when they meet with Korean authorities and business leaders.
In the course of the visit to Vietnam, a Vietnamese government proposal will be examined. The proposal is for the Association to identify Israeli companies willing to sponsor an industrial park which will export Israeli technologies to other countries.
Nahum said that the potential market for Israeli companies in Korea is estimated at $8.5 billion. Most of the opportunities lie in the spheres of defense and security equipment, environmental products, pharmaceutics and medical equipment, agricultural technology, computers and communications, control systems, automation and electro-optics.
Published by Israel's Business Arena on March 21, 2001.