21/07/2019 10:57 GMT+7 Email Print Like 0

Vietnam actively partakes in building int’l trade regulations

 Vietnamese officials participated in the 52nd session of the United Nations Commission on International Trade Law (UNCITRAL) in Vienna, Austria, from July 8-19.

Addressing the function, Ambassador Le Dung, permanent representative of Vietnam at the UN and international organisations in Vienna, highlighted the importance of UNCITRAL documents to the building and development of legal documents on trade in Vietnam.

He underlined Vietnam’s policy of international integration as well as the country’s efforts and accomplishments in legal reforms to realise the UN Sustainable Development Goals, based on international laws and standards.

The Ambassador thanked the UNCITRAL Secretariat for providing technical assistance in the organisation of a workshop presenting UNITRAL regulations on public-private partnership (PPP) in Hanoi in January 2019.

As a new member, Vietnam will make active contributions to the UNCITRAL work and hopes the commission will continue providing technical support for Vietnam to build the draft Law on PPP, he affirmed.

The Vietnamese delegation joined discussion about the role of UNCITRAL in promoting the rule of law, the UNCITRAL working programme in the coming time, the expansion of UNCITRAL membership, and the reform of mechanism to address investment disputes.

The session witnessed the participation of 51 out of the 60 member countries of UNCITRAL along with 23 observing nations and inter-governmental and non-governmental originations.

Participants focused discussion on regulations and guidelines on PPP, secured transactions, and trade mediation regulations.

At the end of the session, UNCITRAL adopted model regulations on PPP and guidance on Model Law on Secured Transactions, and Model Law on Enterprise Group Insolvency.

Established in 1966, UNCITRAL aims to promote harmonisation and unification of international trade legal regulations.

Vietnam was elected as a member of UNCITRAL for the first time in December 2018.
VNA/VNP