EU Pledges to Continue Providing ODA for Development Projects in Vietnam

The European Union (EU) will continue providing official development assistance (ODA) for development projects in Vietnam, EU affirmed at 8th meeting held in Belgium’s Brussels.  Accordingly, the EU fund will focus on poverty reduction, especially for ethnic groups, support reforming health and justice sectors and issues related to trade and management, the Dau tu newspaper reported.  At the meeting, both sides discussed an array of bilateral ties issues and recent economic and political developments in the EU and Vietnam. They pledged to finalize necessary measures towards the signing of the Partnership and Cooperation Agreement (PCA). Bilateral trade value between Vietnam and the EU saw a surge of 50% over the past five years. During the event, the two countries also deliberated ways to beef up trade ties. Vietnam and the EU agreed on establishing a stronger cooperation in such fields as security, nuclear energy, chemistry, biology, climate change and post-graduate education. On the occasion, both sides also discussed international and regional issues of common concern. The EU affirmed its readiness to closely coordinate with Vietnam in accelerating ASEAN integration and strengthening the ASEAN-EU cooperation.  The EU-Vietnam Joint Commission meeting is held bi-annually to facilitate high-level discussions within the framework of the EC-Viet Nam Co-operation Agreement signed in July 1995. The EU is the major provider of non-refundable aid to Vietnam with a total of $972.3 million earmarked for 2011, or 11.1% of total overseas donor commitments to the country. Of this, 42%, or $406.4 million, will be non-refundable aid. (Dau tu – Investment Oct 14 p2, Vietnam News Oct 13, news.gov.vn Oct 13)