The U.S. Government, through its Agency for International Development (USAID), has announced a new project worth $11.7 million to continue assisting Vietnam to enhance trade and integration into the global economy. The three-year project, lasting through September 2013, will assist the Vietnamese government when it implements new legal documents to fulfill its international commitments in the World Trade Organization (WTO) and other trade and investment related agreements, the U.S. Embassy in Vietnam said on its website October 27. The project will offer technical assistance via providing experts and training to help Vietnam to build its capacity to implement and enforce legislation to meet the commitments and seize opportunities presented by current and developing trade and other international agreements, USAID Mission Director Francis Donovan said. USAID's implementing partner, DAI/Nathan Group, will work with the Vietnamese Ministry of Justice, and other agencies to train staff, help develop institutions, and build the capacity of state agencies and support Vietnam’s further global economic integration, including preparation of legal conditions required to participate in multilateral international treaties. The project builds on USAID’s previous Support for Trade Acceleration (USAID/STAR) projects. Since 2001, the U.S. agency has provided technical support to Vietnamese authorities drafting 150 laws, of which 115 have been adopted. These include trade-facilitating laws on the labor code, credit institutions, securities, standards, and arbitration. Recent activities include consultations with Vietnamese officials on regulations affecting imports/exports, investment, and intellectual property rights. Trade between Vietnam and the U.S. increased to $12.9 billion in the first nine months of this year, including the former’s trade surplus of $7.7 billion, the General Statistics Office said October 28 but giving no comparative figures. The Vietnamese General Department of Customs earlier forecast the bilateral trade will surge to $19 billion and $20 billion in 2010, including the former’s export value of $14 billion. In early October, Vietnam together with Australia, Brunei, Chile, New Zealand, Peru, Singapore, the U.S., and the new participant Malaysia concluded the third negotiation round of the Trans-Pacific Partnership Agreement (TPP) in Brunei. (vietnam.usembassy.gov Oct 27, vietnamplus.vn Oct 28)
