Wang Xuelin, President of the Hainan International Arbitration Court, welcomed Vice President of VTA, Ms.Đặng Diệu Phương and VTA delegation. He emphasized that the Hainan International Arbitration Court is an international commercial arbitration institution established by restructuring the Hainan Arbitration Commission, under the guidance of the Hainan Provincial Party Committee and Government to meet the needs of the Free Trade Port. The institution is tasked with enhancing the legal business environment of the Free Trade Port, with the goal of making Hainan an international commercial arbitration center serving the Free Trade Port and reaching out to the Pacific and Indian Oceans. The signing of the MoU marks a promising start to the cooperation between Chinese and Vietnamese arbitration institutions. Leveraging the Hainan Free Trade Port's geographical advantages, the Hainan International Arbitration Court will engage in practical cooperation with the Vietnam Traders Arbitration Centre, jointly creating a rule-of-law business environment to facilitate bilateral trade and economic exchanges.

Vice President Đặng Diệu Phương provided an overview of the Vietnam Traders Arbitration Centre, expressing her pleasure at signing the MoU and establishing a collaborative relationship with the Hainan International Arbitration Court. She noted that arbitration is a universally accepted means of dispute resolution. As a leading arbitration institution in Vietnam, the Vietnam Traders Arbitration Centre is improving its operations and influence through international exchanges and cooperation. This collaboration with the Hainan International Arbitration Court demonstrates both parties' openness and willingness to cooperate in the field of international arbitration. She looks forward to using this MoU as a foundation to foster new chapters of international cooperation.

According to the MoU, both parties will collaborate in areas such as mutual recommendation and recognition of arbitrators, co-hosting international arbitration events, sharing hearing facilities, and establishing joint arbitration mechanisms in specific fields. During the meeting, both sides also engaged in in-depth discussions on mutual recognition mechanisms for arbitrators, the operation mechanisms and development status of commercial arbitration in China and Vietnam, and the integration of arbitration and mediation processes. The event was attended by VTA arbitrators Tian Jian, Phạm Viết Tuấn, and Xiaomin Liao, along with HIAC Vice President Chen Huajun, Deputy Director of the International Commercial Mediation Center Liu Juan, and International Cooperation Officer Li Lianjie.'

-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.