EC commits to Sponsor Vietnam 150 million euros
EC will help Vietnam strengthen economic development and implementation of social reform process improvement through development assistance.
At the seventh meeting of the Joint Committee of Vietnam - European Community (EC), held in Hanoi on November 26, 2009, the two sides reached an agreement in principle for the loan of the European Investment Bank (EIB) for the development of the subway system in Hanoi and HCM City.
Along with that, a budget worth about 150 million euro EIB will also be provided for projects in the field of distribution and consumption of renewable energy, thereby contributing to combat climate change. Similarly, the EC will be to Vietnam aid for 2 million euros to research solutions for safety of nuclear energy.
Seventh meeting of the Joint Committee of Vietnam - EC took place under the co-presided by Mr. Nguyen The Phuong, Deputy Minister of Planning and Investment Representative for Vietnam and Mr Stefano Sannini, Deputy Department Minister in charge of Asia and Latin America from EC. The meeting focused the evolution of relations in Vietnam - since EC Joint Committee meeting was first held in Brussels (Belgium) on 11/2007.
At the meeting, the two sides discussed the evolving political and economic EU and Vietnam. The EC has congratulated the continuous progress in economic reform, administrative law and justice in Vietnam, as well as efforts in promoting global integration more strongly as a member the World Trade Organization (WTO), a non-permanent members of the Security Council and UN upcoming ASEAN chairman.
Both sides also review the progress achieved and confirms commitment to continue negotiations and Cooperation Agreement Partnership new (PCA). This agreement is made to develop the institutional framework and the current expansion, as well as diversification of dialogue and cooperation between the EC and Vietnam.
The meeting also review the implementation of the EC country strategy for Vietnam and methods to further strengthen cooperation between the two sides.
Representative for Vietnam, Deputy Minister of Planning and Investment Nguyen The Phuong have appreciated the support of the EC for the development plan of socio-economic and praise Vietnam's bilateral relations and multilateral well with Vietnam.
Meanwhile, Stefano Sannino reaffirmed his commitment to support Vietnam's socio-economic development and social reform process through development assistance measures. The solutions in the near future it will be a reduction, health reform, judicial reform and governance. Support related to trade to help Vietnam to benefit more from the world economic integration has also been referred to.
"In the coming time, the two sides will strengthen cooperation in the field of civil aviation; prevention of illegal trade in timber products exported to the EC market; administrative reform and implement a dialogue new policy on higher education, "said Stefano Sannino.
