Illustrative photo (Source: diendandoanhnghiep.vn)

Israel's removal of import quotas and opening of its dairy market create a good opportunity for Vietnamese businesses to approach Israeli importers and boost exports to the country in the near future, the Vietnamese trade office in Israel has said.

According to the office, in early December, the Israeli Ministry of Finance and Ministry of Agriculture and Rural Development agreed to abolish import quotas for a wide range of dairy products, including low-fat yogurt and cheese, in a bid to reduce the price of dairy products for Israeli consumers.

The move will allow the market to open to the free import of products from European countries, with the average price per kilogram of yogurt consumed in Israel falling to 8.5 NIS from the previous price of 17 NIS.

The Israeli Ministry of Finance estimated that the abolition of the quota will reduce the prices of imported cheese by about 25 percent from the current state-controlled prices in Israel, cutting the consumer prices by about 10 NIS per kg and still protecting the domestic agriculture./.