The July 4 meeting centered on cooperation under the 2023 Memorandum of Understanding (MoU) between Vietnam’s Ministry of Foreign Affairs and UNCITRAL’s Secretariat. The agreement laid the groundwork for technical assistance and legal capacity-building in international trade law, encompassing the implementation of UNCITRAL’s legal documents in Vietnam, training programs for legal professionals, judges, and lawyers, and legislative advisory support to align Vietnam's commercial legal framework with international standards.

leftcenterrightdel
Ambassador Vu Le Thai Hoang (left) and Secretary of the United Nations Commission on International Trade Law (UNCITRAL) Anna Joubin-Bret

Ambassador Hoang expressed gratitude for UNCITRAL's support through technical assistance and capacity-building projects. He affirmed that Vietnam values the commission’s roles and efforts in strengthening developing nations' capabilities in building and implementing international trade law.

The ambassador said he believes that a new MoU to be signed at the 58th session, will serve as a cornerstone for intensifying substantive cooperation between Vietnam and UNCITRAL in the coming time.

Joubin-Bret praised Vietnam's active participation in UNCITRAL working groups, particularly during its first term from 2019-2025, and welcomed the country's re-election for the 2025-2031 term with high votes. She affirmed UNCITRAL's readiness to collaborate closely with Vietnam's Ministry of Foreign Affairs and relevant agencies to effectively implement specific activities under the memorandum framework.

The discussions also highlighted Vietnam's initiative on developing an international legal framework for cross-border carbon credit market. It has been recognized as highly practical given the rapid expansion of carbon trading in the absence of a comprehensive legal framework.

To advance this initiative, the Vietnamese foreign ministry is coordinating with UNCITRAL to organize an international symposium on carbon credit market, scheduled for July 15 in the framework of the 58th session.

Source: VNA