Vietnam Reinforces Global Role with UNCITRAL Re-election

In its role as a UNCITRAL member, Vietnam will continue to play a role in shaping international trade law through direct participation in negotiations.
November 21, 2024 | 22:57
Vietnam Strengthens Its Role And Influence in Global Forums
Mexican Media Highlights Vietnam's Role in Multilateral Forums

On November 20th, at the United Nations Headquarters in New York, Vietnam was re-elected to the United Nations Commission on International Trade Law (UNCITRAL) for the 2025-2031 term with a high vote of 175 out of 183.

Vietnam Reinforces Global Role with UNCITRAL Re-election
The United Nations votes to elect members of the United Nations Commission on International Trade Law.

Joining Vietnam in securing a seat in UNCITRAL from the Asia-Pacific region are Malaysia, the Philippines, Singapore, Sri Lanka, China, Japan, and South Korea.

This is the second consecutive term for Vietnam as a UNCITRAL member, following the successful first term (2019-2025). This re-election reflects the recognition and appreciation of UN member states and the international community for Vietnam’s active and constructive contributions to the development, harmonization, and implementation of international trade law, both in general and within the UNCITRAL framework.

The high number of votes in favor of Vietnam’s candidacy also reflects the country’s increasing international standing and prestige, and is the result of the cultivation and consolidation of friendly relations and cooperation between Vietnam and other UN member states over the years.

Vietnam Reinforces Global Role with UNCITRAL Re-election
Ambassador Dang Hoang Giang votes for a member of the United Nations Commission on International Trade Law.

As a member of UNCITRAL, Vietnam will continue to directly participate in the negotiation process and shaping of international trade law rules from the earliest stages in the next five years, such as developing model laws, guidelines, and regulations on the settlement of commercial disputes, investor-state disputes, and rules governing new forms of commerce, ensuring that these rules align with Vietnam's priorities and interests, while harmonizing with the common interests of the international community, especially developing countries.

As an open economy with a GDP of US$430 billion (ranking 35th globally), a total import-export turnover of US$681 billion, a member of the top 20 countries with the largest trade volume, and a network of free trade agreements with more than 60 countries, including many major economies, Vietnam highly values and actively participates in UNCITRAL, thereby promoting the building of a legal framework, and shaping policies towards an open, fair, and transparent trading system.

UNCITRAL is a United Nations specialized agency on international trade law established in 1966. The agency plays a leading role in promoting the harmonization and unification of international trade law.

Since its establishment, UNCITRAL has developed many important international conventions in the field of international trade, such as the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, the United Nations Convention on Contracts for the International Sale of Goods, model laws, regulations, and guidelines on international commercial arbitration, electronic commerce, small and medium-sized enterprises, public-private partnerships, bankruptcy, and many other areas of international trade law.

Girl Take over Leadership Roles Again in Swedish Embassy in Vietnam

Girl Take over Leadership Roles Again in Swedish Embassy in Vietnam

In celebration of International Day of the Girl, the Embassy of Sweden and Plan International Vietnam launched Girl Takeover 2024, an initiative to empower young ...

Youth Play Vital Role in Hanoi-RoK Cooperation

Youth Play Vital Role in Hanoi-RoK Cooperation

Hanoi always prioritizes developing friendly relations and mutually beneficial cooperation with Republic of Korea (RoK) localities and partners.

Rosie Nguyen
Phiên bản di động