This file photo taken on Dec 1, 2021 shows the train running on the Cat Linh-Ha Dong metro line in Hanoi, capital of Vietnam. (PHOTO / XINHUA)

HANOI - Vietnam and Israel will sign a free trade agreement later this year, after completing seven years of negotiation, the Southeast Asian country's government said on Monday.

Bilateral trade between the countries rose 18 percent last year to $2.2 billion, the government said in a statement. Vietnam's largest exports to Israel include smartphones, footwear and seafood, while it imports electronics and fertilizer.

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Vietnam has signed more than 15 bilateral and multilateral free trade agreements since the early 1990s, as it seeks to attract more foreign investors to its manufacturing-driven economy.