EU backs Vietnam's global integration

The Hanoitimes - The European Union will continue to support Vietnam's integration into the global trading and investment system via a new European Trade Policy and Investment Support project starting this year, according to the head of the EU delegation to Vietnam.

Ambassador and head of the EU delegation to Vietnam Franz Jessen, made the statement at the closing ceremony of the Multilateral Trade Assistance Project (MUTRAP), held in Hanoi o­n May 30.

The Ambassador said that MUTRAP is o­ne of the EU's longest Trade Related Technical Assistance programmes in Vietnam. Its key impacts are the country's adoption of laws that aligned with international trade regulations, helping its own economic development. MUTRAP has also created greater awareness among Vietnamese exporters o­n how to access the European market.

The EU funded €35 million (US$43.6 million) in the project and will add other €15 million (US$18.7 million) to MUTRAP IV, bringing its total fund to €50 million (US$62.2 million).

Mr. Nguyen Thanh Bien Deputy Minister of Industry and Trade (MoIT), said after four years of operation, the project has implemented 70 technical assistance activities.

According to Mr. Bien, the project has helped develop the capacity of designing legal frameworks and normative documents such as from designing Competition Law to sub-law documents, including decrees, decisions of the Prime Minister and continues to help Vietnam establish an appropriate legal framework according to its commitments in joining the WTO.

MUTRAP III also plays an important role in providing information and disseminating the results of international economic integration and Vietnam-EU trade, economic relationship for the business community and people.

In its 46 months of operation, the project has disseminated more than 30 publications in English and Vietnamese, some adopted as textbooks for some university courses, seven internet portals and websites.