ID :
10294
Wed, 06/18/2008 - 16:11
Auther :
Shortlink :
https://oananews.org//node/10294
The shortlink copeid
EC commits 10 million Euros to aid multilateral trade
Hanoi (VNA)- The European Commission (EC) will contribute 10 million euros to a Multilateral Trade Assistance project to help Vietnam fulfill its major socio-economic targets for four years up to June 30, 2012.
The project agreement was signed in Hanoi on June 17 by Minister of
Industry and Trade Vu Huy Hoang and Head of the European Commission
Delegation to Vietnam , Ambassador Sean Doyle.
Under the accord, codenamed EU-Vietnam MUTRAP III, Vietnam will
contribute 670,000 EUR to the project.
MUTRAP III will assist Vietnam to implement its socio-economic
development plan and post-WTO action plan for sustained pro-poor economic
growth through stronger integration into the global trading system.
The project will focus on capacity building for the Ministry of Industry
and Trade (MOIT) in implementing WTO commitments as well as in developing a
socio-environmental sustainable trade integration strategy through closer
coordination with the private sector, training and research institutions.
It will also assist the MOIT to effectively negotiate and coordinate
regional trade related arrangements such as the ASEAN Free Trade Area
(AFTA), ASEAN plus dialogue partners and to engage in FTA negotiations with
major trade partners, including the EU.
The project is also expected to contribute to strengthening the capacity
of competition policy stakeholders.
MOIT Minister Hoang said he believed that MUTRAP III would continue
effectively assisting the Vietnamese government in improving its capacity of
making trade policy and handling the macro economy.
Ambassador Doyle said he expected the project will enable Vietnamese
ministries and industries to address and overcome difficulties in global
integration.
MUTRAP kicked off in 1998 to assist Vietnam in WTO negotiations. The
first phase lasted from 1998 to 2004 and supported the country in conducting
indepth and comprehensive research in domestic economic sectors and
industries, laying the foundation for the country's negotiations for WTO
membership. It also contributed to trade competition policy stakeholders
during the country's negotiations for WTO.
The second phase was executed from January, 2005 to June, 2008, and
focused on post-WTO assistance. It helped the country tap opportunities
while addressing impacts from its WTO membership, increase the policy-making
capacity, and raise the competitive edge of Vietnamese-made commodities in a
way to meet foreign markets' requirements.
The EU is among Vietnam 's major trade partners. Bilateral trade
revenues reached 14.2 billion USD in 2007, representing an increase of over
39 percent year on year.-Enditem
The project agreement was signed in Hanoi on June 17 by Minister of
Industry and Trade Vu Huy Hoang and Head of the European Commission
Delegation to Vietnam , Ambassador Sean Doyle.
Under the accord, codenamed EU-Vietnam MUTRAP III, Vietnam will
contribute 670,000 EUR to the project.
MUTRAP III will assist Vietnam to implement its socio-economic
development plan and post-WTO action plan for sustained pro-poor economic
growth through stronger integration into the global trading system.
The project will focus on capacity building for the Ministry of Industry
and Trade (MOIT) in implementing WTO commitments as well as in developing a
socio-environmental sustainable trade integration strategy through closer
coordination with the private sector, training and research institutions.
It will also assist the MOIT to effectively negotiate and coordinate
regional trade related arrangements such as the ASEAN Free Trade Area
(AFTA), ASEAN plus dialogue partners and to engage in FTA negotiations with
major trade partners, including the EU.
The project is also expected to contribute to strengthening the capacity
of competition policy stakeholders.
MOIT Minister Hoang said he believed that MUTRAP III would continue
effectively assisting the Vietnamese government in improving its capacity of
making trade policy and handling the macro economy.
Ambassador Doyle said he expected the project will enable Vietnamese
ministries and industries to address and overcome difficulties in global
integration.
MUTRAP kicked off in 1998 to assist Vietnam in WTO negotiations. The
first phase lasted from 1998 to 2004 and supported the country in conducting
indepth and comprehensive research in domestic economic sectors and
industries, laying the foundation for the country's negotiations for WTO
membership. It also contributed to trade competition policy stakeholders
during the country's negotiations for WTO.
The second phase was executed from January, 2005 to June, 2008, and
focused on post-WTO assistance. It helped the country tap opportunities
while addressing impacts from its WTO membership, increase the policy-making
capacity, and raise the competitive edge of Vietnamese-made commodities in a
way to meet foreign markets' requirements.
The EU is among Vietnam 's major trade partners. Bilateral trade
revenues reached 14.2 billion USD in 2007, representing an increase of over
39 percent year on year.-Enditem
