EU increases development funding

The European Union (EU) will increase development assistance for Viet Nam to EUR400 million (US$551 million) during 2014-2020 period, noted Chief Operating Officer of the European External Action Service (EEAS) David O'Sullivan.


The figure is substantially more than the EUR298 million sum offered during 2007-2013 period.

During a meeting with Deputy Prime Minister Pham Binh Minh yesterday, Sullivan reaffirmed the EU's commitment to help in concluding the Free Trade Agreement (FTA) negotiations with Viet Nam this year.

Deputy Prime Minister Minh, for his part, proposed that the EU ratify the comprehensive Partnership and Cooperation Agreement framework, and recognise Viet Nam as a market economy before concluding the EU–Viet Nam FTA talks by this October.