Vietnam Launches EC-funded MUTRAP III Project
The Ministry of Industry and Trade (MoIT) on November 14 kick off the Multilateral Trade Assistance Project Vietnam III (MUTRAP III) with the grant of EUR10 million from the European Commission (EC).
The four-year project will help Vietnam 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.
It will also focus on building capacity for the MoIT in implementing WTO commitments and developing a socio-environmental sustainable trade integration strategy through closer coordination with the private sector, training and research institutions.
The MUTRAP III will facilitate Vietnam to effectively negotiate and coordinate regional trade 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 EU is among Vietnam’s major trade partners. Bilateral trade reached US$14.2 billion in 2007, representing an increase of over 39 per cent on-year.
Vietnam is expected to earn US$11.18 billion from exports to the EU this year, up 23 per cent on-year and making up 92.1 per cent of the country’s export turnover to Europe, said the MoIT. (Vietnam Economic Times, Investment)
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