Geneva (VNA) - Vietnam on October 16 officially announced its participation in the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) which aims to help maintain the stability of the dispute settlement system within the World Trade Organisation (WTO).
Vietnam’s participation in the MPIA sends a strong message of commitment to a rules-based multilateral trading system. In the context of the WTO Appellate Body, which is considered the "supreme court" of global trade, being temporarily inactive, the country’s decision is seen as a responsible action that contributes to maintaining trust and stability in international trade.
The MPIA initiative was established as a temporary solution to ensure that WTO members still have a two-tier, impartial, and transparent mechanism to solve trade disputes. By joining, Vietnam not only protects its own interests but also contributes to strengthening the foundation of the WTO system alongside the international community.
From a strategic perspective, joining the mechanism enhances the country's standing and voice in discussions about WTO reform. This is an opportunity for it to demonstrate its role as an active, responsible member which is ready to help shape the global trade rules of the future.
From a practical standpoint, the MPIA serves as an effective "legal shield," as it provides Vietnam with the necessary tools to protect the legitimate rights and interests of its businesses and export sectors in the face of complex trade disputes. Ensuring the right to appeal in a case will make rulings fairer and more reliable, creating a more predictable and safer international business environment.
Vietnam has become the 57th WTO member to join this mechanism, standing alongside major economies and key trading partners such as the European Union, China, Japan, Canada, Australia, and ASEAN neighbours like Singapore, Malaysia, and the Philippines. This move reaffirms its commitment to deepening and broadening its comprehensive international economic integration./.
VNA
