Southeast Asia Information Port (www.dnyxxg.com) – According to VNA's Geneva correspondent, on October 16, Vietnam officially announced its accession to the Multiparte Interim Appeal Arbitration (MPIA) mechanism. This initiative contributes to maintaining the stability of the WTO dispute settlement system.
Vietnam's accession to the MPIA mechanism sends a strong message of its unwavering support for the rules-based multilateral trading system. Against the backdrop of the suspension of the World Trade Organization (WTO) Appellate Body, considered the "Supreme Court" of global trade, Vietnam's accession to the MPIA is seen as a responsible move that will help maintain trust and stability in international trade.
The MPIA mechanism, as a temporary solution, aims to ensure that WTO members maintain an objective, transparent, two-tiered adjudication mechanism for resolving trade disputes. By joining the mechanism, Vietnam not only safeguards its own interests but also works with the international community to strengthen the foundations of the WTO system.
From a strategic perspective, joining the MPIA mechanism will help enhance Vietnam's status and voice in WTO reform discussions. This is also a significant opportunity for Vietnam to demonstrate its commitment to participating in and jointly shaping future global trade rules as an active and responsible member.
From a practical perspective, the Multiparty Interim Appeal Arbitration Arrangement (MPIA) is an effective "legal shield." This mechanism provides Vietnam with the necessary tools to safeguard the legitimate rights and interests of its businesses and export industries in complex trade disputes. Ensuring the right of appeal in litigation will help make decisions more fair and reliable, thereby fostering a more predictable and secure international business environment.
Vietnam has become the 57th WTO member to join this mechanism, joining major economies such as the EU, China, Japan, Canada, and Australia, as well as neighboring ASEAN countries such as Singapore, Malaysia, and the Philippines. This initiative once again demonstrates that Vietnam is further accelerating its deep and comprehensive international economic integration. (End)
