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Vietnam becomes member of UN Commission on International Trade Law

Vietnam has for the first time become a member of the United Nations Commission on International Trade Law (UNCITRAL), signing up for a six-year term.

The Southeast Asian country won 157 out of 193 votes at an election during the 73rd session of the UN General Assembly in New York, the US, on December 17.

Vietnam,  United Nations, Commission on International Trade Law, UNCITRAL, Vietnam, 73rd session, UN General Assembly, Ambassador Dang Dinh Quy

An overview of the 73rd session of the UN General Assembly in New York.

Vietnam and eight other Asia-Pacific countries ran for seven membership vacancies this year. This is the first time that Vietnam has stood as a candidate for the position.

UNCITRAL, established by the General Assembly in 1966, is the core legal body of the United Nations in international trade law and aims to remove legal obstacles to international trade.

The success in the election shows the country’s rising international prestige, and is recognition of the country’s efforts and contributions to the common tasks of the international community.

Ambassador Dang Dinh Quy, head of Vietnam's Permanent Mission to the UN, said that Vietnam’s UNCITRAL membership candidacy was motivated by the country’s external policy of active international integration, enhancing multilateral foreign relations and engaging in international law development.

Vietnam’s membership of the commission marks a step forward in the country’s international integration, especially in multilateral legal integration, while realizing the country’s policy of helping build and shape common rules at international level and within the UN framework, he said.

Vietnam,  United Nations, Commission on International Trade Law, UNCITRAL, Vietnam, 73rd session, UN General Assembly, Ambassador Dang Dinh Quy

UN's headquarter.

Over the years, Vietnam has joined various international conventions and applied many model laws, guidelines and regulations in international trade, including arbitration rules built within the UNCITRAL framework, noted the diplomat, adding that the country urgently needs to complete its trade laws to implement bilateral and multilateral trade and investment deals, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Vietnam’s joining the UNCITRAL will also help the country harmonize national trade laws, thus reducing obstacles in settling disputes and strengthening international trade for sustainable growth, he stated.

 

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Source: VNA

Vietnam, United Nations, Commission on International Trade Law, UNCITRAL, Vietnam, 73rd session, UN General Assembly, Ambassador Dang Dinh Quy
 
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