EU offers big new trade aid boost

The European Union has today announced further substantial commitments to providing Trade Related Assistance (TRA) to developing countries. Last night the EU Council of Ministers, comprising the twenty-five EU Member States, committed to provide 1 billion euros a year in TRA from 2010. This is a substantial increase from the 400 million per year currently provided by European Member States.

It matches the 1 billion euros per year from 2007 pledged by the European Commission at the Gleneagles summit this year. It means that total EU Trade Related Assistance will rise to 2 billion euros from 2010.

European Trade Commissioner Peter Mandelson, who has made a substantial new Trade Related Assistance package a key part of the EU's Development Package for the Hong Kong Ministerial said: "Europe did not come to Hong Kong empty-handed on Aid for Trade."

These packages do not include existing funding for African infrastructure - roads, energy and water. The European Commission alone provides about 800 million euros a year through its African infrastructure funds. The funds announced today are additional to this support. EU Member States also provide separate funding for infrastructure.

The European Commission is the largest Trade Related Assistance provider in the world. The European Union provides more Trade Related Assistance than the rest of the world combined.

Trade Related Assistance is used to help states build the capacity to take advantage of market access. It provides funds to help improve administrative procedures and help producers develop the capacity to meet health and safety standards for export. TRA cannot substitute for the benefits of market opening, but it is essential in order to help the poorest states realise concrete benefits from new market access.

http://europa.eu.int/comm/trade/index_en.htm

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