Signing Ceremony of the Strategic Cooperation Agreement between the Vietnam Traders Arbitration Centre (VTA) and the Beihai Asia International Arbitration Centre (BAIAC)

On the afternoon of April 17, 2024, in Ho Chi Minh City, a signing ceremony was held to mark the Strategic Cooperation Agreement between the Vietnam Traders Arbitration Centre (VTA) and the Beihai Asia International Arbitration Centre (BAIAC).

BAIAC, based in Singapore, is an arbitration center focused on resolving international commercial disputes arising from Asian trade cooperation and the trade linkages between China and ASEAN+6. VTA is a dispute resolution institution that handles conflicts arising from production, business activities, and corporate governance in accordance with legal regulations, with a deep understanding of Vietnam's culture and business environment, and adhering to international arbitration standards.

The signing ceremony was attended by Professor Steve Ngo, President of BAIAC; Mr. Phạm Xuân Sang, President of VTA, along with members of the Executive Board, arbitrators, and the VTA Secretariat. The ceremony was also witnessed by Mr. Đặng Thế Đức, Managing Partner of Indochine Counsel.

The cooperation agreement between VTA and BAIAC serves as a foundation for promoting alternative dispute resolution (ADR) methods, including arbitration, in Vietnam, Singapore, China, and other countries in the region.

Under the terms of the agreement, VTA and BAIAC will: (i) Collaborate to organize conferences, seminars, workshops, and other events on international arbitration in Ho Chi Minh City and Singapore; (ii) Introduce and enroll arbitrators into each party's list of arbitrators; (iii) Provide support in terms of venues, facilities, and resources for BAIAC's arbitration activities in Ho Chi Minh City and VTA's arbitration activities in Singapore; (iv) Enhance the exchange of information, share experiences, and promote cooperation between the two parties.

The Vietnam Traders Arbitration Centre (VTA) is an institution that organizes and coordinates the resolution of business disputes through regulated arbitration, with the authority to resolve disputes including: (i) disputes arising from commercial activities between parties; (ii) disputes between parties where at least one party is engaged in commercial activities; (iii) disputes where the law requires resolution by arbitration.

To learn more about VTA, please visit vtac.vn.

- VTA -

VTA’s Model Arbitration Clause: “Mọi tranh chấp phát sinh từ hoặc liên quan đến hợp đồng này sẽ được giải quyết bằng trọng tài tại Trung tâm Trọng tài Thương nhân Việt Nam (VTA) theo Quy tắc tố tụng trọng tài của Trung tâm này”. “Any dispute arising out of or in relation with this contract shall be resolved by arbitration at the Vietnam Traders Arbitration Centre (VTA) in accordance with its Rules of Arbitration”.

The Vietnam Trade Arbitration Center (VTA) is responsible for organizing and coordinating the resolution of business disputes through institutional arbitration, with jurisdiction over disputes including: (i) disputes arising from commercial activities between parties; (ii) disputes involving at least one party engaged in commercial activities; and (iii) disputes as prescribed by law to be resolved by arbitration.