The agreement with Vietnam is the second with a priority export market.
Ministry of Finance Accountant General Dr. Yaron Zelekha and Deputy Accountant General Ami Landau have signed a financial protocol for the opening of a special credit line worth $150 million to finance Israeli exports Vietnam. The two men signed the directive in a ceremony attended by the Israeli ambassador to Vietnam, Efi Ben Matityahu, and Ashra Israel Export Insurance Corp. Ltd. managing director Uri Bernstein. The Ministry of Foreign Affairs and the Ministry of Industry, Trade and Labor, assisted in negotiating the terms of the credit line.
The financial protocol sets out a mutual guarantee framework, under which the Israeli government will provide guarantees to Israeli exporters involved in deals requiring long-term finance, in exchange for parallel guarantees from the Vietnamese government, and a "green" track for the approval of imports to Vietnam. The Ministry of Industry, Trade and Labor has defined Vietnam as a priority target for Israeli exports because of its high growth potential. The agreement with Vietnam is the second with a priority export market, after China.
Published by Globes [online], Israel business news - www.globes.co.il - on August 19, 2007
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