Canada doles out 12.9 million USD for Vietnam’s agriculture hinh anh 1Rice cultivation in Vietnam. (Source: VNA)

Ottawa (VNA) - The Canadian Government will provide 12.9 million USD for Vietnam’s agriculture economy development from 2015-1020, announced Canadian Prime Minister Justin Trudeau on November 19.

The funding will support the implementation of the Vietnam Cooperative Enterprises Development (VCED) project, which helps reduce poverty and foster economic growth, according to a press release from the PM’s Office.

The Canadian Cooperation Society for International Development (SOCODEVI) – a non-profit development organisation with 13 years of experience working in Vietnam – will carry out the project that looks to increase competitiveness and productivity of Vietnamese agricultural cooperatives.

“Canada is a country with a great deal to offer. Our expertise in agricultural cooperatives will help ensure that Vietnam is able to apply production techniques - that are environmentally friendly and sustainable. This will unlock shared prosperity for families and individuals now and into the future,” Justin Trudeau was quoted in the press release.

The VCED project covers the establishing new market-oriented agricultural cooperatives, enhancing knowledge, skills and competitiveness of Vietnamese peasants, fine-tuning cooperative management practices, and developing policies and a regulatory environment to impulse cooperatives.

Some 10,000 farm households will benefit from the initiative.

Vietnam and Canada set up diplomatic ties in 1973. In September, 2014, the two countries signed a letter of intent to deepen people-to-people ties, and partnerships in education, trade, investment, human rights, security, among others.-VNA