HA NOI (VNS)— The EU will provide EUR2.9 million (US$3.8 million) for three years to support Viet Nam's development through the implementation of activities in areas covered by the EU-Viet Nam Partnership and Co-operation Agreement (PCA).
The financial support is part of the new EU-Viet Nam Strategic Dialogue Facility, launched yesterday in Ha Noi by the Delegation of the EU to Viet Nam and the Ministry of Foreign Affairs.
The Facility will fund policy-oriented research and studies and organise conferences, high-level meetings and training sessions with European and international experts.
These will address a broad range of issues including governance, human rights, environment and climate change, migration, public administration reform and transnational crime.
Trade and investment, currently covered by other EU cooperation projects, will not be a main priority for the Facility.
Dr. Franz Jessen, head of the EU Delegation to Viet Nam, said that the PCA was an important milestone in EU-Viet Nam relations and a testimony to the rapidly growing importance of the two entities' bilateral ties.
"It also demonstrates the commitment of the EU to forge a modern, broad-based and mutually-beneficial partnership with Viet Nam," he said.
Deputy Minister of Foreign Affairs Bui Thanh Son agreed that the PCA signed last June helped meet the need for a new legal framework for the growing and dynamic co-operation between Viet Nam and the EU.
Before the PCA was ratified by all EU Member States and submitted to the European Parliament, it enjoyed a successful early implementation, he said, adding that the two sides were working on other early PCA implementation during 2012-13.
"Viet Nam will make efforts to implement regulations under the PCA," he said.
As of March, 22 out of 27 EU member states had invested in 1,299 projects in Viet Nam, with total registered capital of $17 billion.
They are among the biggest investors in the country. Last year, two-way trade value was $29.09 billion, 20 per cent higher than in 2011 despite the economic slowdown. — VNS