Australia pledges $9.8 million to Vietnam

Tuoi Tre

Visiting Australian Minister of Trade Simon Crean on Friday pledged US$9.8 million to help Vietnam meet the requirements of World Trade Organization (WTO) membership.

The Australian minister said the funding was part of the five-year Beyond WTO program focused on the "capacity-building needs" of Vietnam after joining the WTO in 2007.

The aid is aimed at strengthening Vietnam's market economy and assisting the rural sector adjust to the changes, an Australian Embassy news release said.

Beyond WTO is a joint initiative of the Australian, British and Vietnamese governments and the World Bank.

The Australian trade minister also said his government would fund the Vietnam Agriculture Cooperation Program to help Vietnam improve pest risk analysis and pesticide residue detection to comply with international standards for traded goods.

Crean was in Vietnam for the eighth meeting of the Joint Trade and Economic Cooperation Committee on Friday, co-chaired by Vietnamese Minister for Planning and Investment Vo Hong Phuc.

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