Updated  
February, 21 2014 07:10:00

Australia aids restructuring effort

Deputy Prime Minister and Foreign Minister Pham Binh Minh and visiting Australian Minister of Foreign Affairs Julie Bishop.— VNA/VNS Photo

HA NOI (VNS)— Australia will provide AUD2.5 million (US$2.25 million) through the Restructuring for a More Competitive Viet Nam initiative, according to a statement made by visiting Australian Minister of Foreign Affairs Julie Bishop on Wednesday.

"These reforms will help Viet Nam meet its commitments under its regional and international trade agreements, and lift Viet Nam's economic competitiveness to boost its regional and global trade," the release said.

The Restructuring for a More Competitive Viet Nam initiative builds on the successes of the Beyond WTO Programme, under which Australia provided $8.6 million to help Viet Nam benefit from its accession to the World Trade Organisation in 2007. — VNS

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