EU to Raise Fund for Vietnamese Biz to EUR10 Mln

The European Union (EU) will double its non-refundable aid to EUR10 million for Vietnamese enterprises doing businesses with the EU market by continuing carrying out the Multilateral Trade Assistance Project Vietnam III (MUTRAP III), the Liberated Saigon newspaper reported.

 

The information was announced by EU trade counselor Antonio Berenguer at a seminar on helping Vietnamese enterprises to raise their competitiveness organized in Ho Chi Minh City May 14.

 

The five-year MUTRAP III will not only provide technical assistance for Vietnamese businesses via training courses but also help improve information management and settlement for Vietnam’s customs.

 

The MUTRAP II worth EUR5 million was jointly carried out by the Ministry of Industry and Trade (MoIT) and the European Commission (EC) from 2005 to April 2008, concentrating on post-WTO accession issues, and the complex policy changes and challenges facing Vietnam.

 

Vietnam is expected to earn US$11.18 billion from exports to the EU, up 23 per cent on-year and making up 92.1 per cent of the country’s export turnover to Europe, said the MoIT.

 

To gain the goal, the country plans to expand its exports to the EU new markets such as Lithuania, Czech, Hungary, Poland, and Estonia with key cash earners of apparel, footwear, seafood and woodwork. (Liberated Saigon)