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Vietnam Today

EU pledges 30% increase in ODA

Released at: 10:54, 09/07/2015

EU pledges 30% increase in ODA

Ambassador of EU Delegation commits to higher ODA flows with PM.

by Manh Khiem

At a meeting with Prime Minister Nguyen Tan Dung in Hanoi on July 9, Ambassador of the EU Delegation to Vietnam Franz Jessen said that the EU will increase its ODA to the country by 30 per cent until 2020 and 32 per cent over the next seven years.

Two more EU members have recently ratified the Framework Agreement on Comprehensive Partnership and Cooperation (PCA) between Vietnam and the EU, bringing the total number to 23 out of the 28 EU Members. With significant progress in negotiations over a free trade agreement (FTA), both sides a keen to put pen to paper as soon as possible.

The ratification of the PCA and an FTA will promote economic and trade cooperation between the two sides and result in higher investment flows from the EU to Vietnam. “The two sides have many differences in the level of development but we have a lot of similarities for cooperation,” Ambassador Jessen was quoted as saying.

Vietnam-EU relations are developing strongly in many areas, to the benefit of both sides. The two are doing their utmost to boost the effective and practical development of bilateral ties.

Source: chinhphu.vn

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