VIAC and THAC signed the Co-operation Agreement

03/04/2018 14:47


On 15 March 2018, Vietnam International Arbitration Centre (VIAC) welcomed a visit from Thailand Arbitration Centre (THAC) delegates. Mr. Tran Huu Huynh (President of VIAC) and Mr. Pasit Asawawattanaporn (Director of THAC) together with other members of VIAC and THAC attended the meeting and witnessed the signing of the Co-operation Agreement between the two centres.

Trong hình ảnh có thể có: 2 người

Mr. Pasit Asawawattanaporn, THAC Managing Director, and Mr. Tran Huu Huynh President of VIAC

On behalf of VIAC, President Tran Huu Huynh would like to express his gratitude to the Thai delegates for spending time and goodwill towards attending the meeting and discussion, marking a significant milestone in the corporate relation between the two centres. Mr. Huynh also complimented on the blooming economy with a high growth rate that Thailand operates together with its friendly people and multi-cultural tradition. The progress Thailand has made sets a superb example for us to follow and to develop our country. In 2017, Vietnam continues to achieve remarkable results with record GDP growth and its rankings on major national rankings in the field of economics have increased significantly. In order to achieve these goals, the government has worked closely with enterprises to create a thorough understanding and to offer better support. VIAC was established in 1993, during the economic transition between 1986 and 2000, from the Centralized Planned Economy to Market-oriented Economy. Therefore, we had the chance to witness the active transformation of the Vietnamese business community in the following years and to be the arbitration institution that has worked with the enterprises as a solid legal foundation for the business throughout.

At the same time, Mr. Pasit Asawawattanaporn claimed that Thailand and Vietnam have shared certain similarities in the economic fundamentals in the past. In the near future, with gradually increasing pace in economic development, he believed that Vietnam would soon gain new and outstanding achievements in the region. In the 1980's, THAC was considered necessary and then established to become a viable dispute resolution mechanism supporting enterprises in the period of further and wider integration and internationalization. What VIAC is and will do is also the goal of THAC and both centres are now approaching the global development trend of international arbitration. Therefore, Mr. Pasit Asawawattanaporn hoped that the co-operation agreement will bring good results for both centres in the upcoming time.

 Trong hình ảnh có thể có: 1 người, đang ngồi và trong nhà Trong hình ảnh có thể có: 1 người, bộ vét

In the meeting, Ms. Pitchaporn Noomnam (THAC Arbitration Consultant) and Mr. Phan Trong Dat (VIAC Vice General Secretary) introduced the activities as well as the vision and mission of both centres to create a firm foundation and maximize the co-operation opportunities between the two centres. VIAC and THAC are widely known as long-standing arbitration centres, pioneering in providing Alternative Dispute Resolution (ADR) in Vietnam and Thailand. However, to catch up with the international arbitration trend and provide quality services with international standards for local and regional business community, it is necessary to strengthen the cooperation between the two centres as well as with other arbitration institutions worldwide. Through this, arbitration organizations can connect, learn from each other and jointly promote the development of commercial arbitration that laid the foundations a century ago.

Trong hình ảnh có thể có: 7 người, mọi người đang cười, mọi người đang đứng, bộ vét và trong nhà

THAC is the 9th international arbitration institution to sign a co-operation agreement with VIAC in the common goal of promoting and developing arbitration in each country as well as in the world. The agreement marks a new milestone in the cooperation between the two sides as well as creates the opportunity for enhancing coordination in order to better access and support the business community in Thailand and Vietnam.

The signing ceremony of the Memorandum of Understanding (MOU) between Thailand arbitration Center (THAC) and Vietnam International Arbitration Center (VIAC) was held on 15 March 2018 at VIAC, Hanoi, Vietnam. Mr. Pasit Asawawattanaporn, THAC Managing Director, and Mr. President TRAN HUU HUYNH of VIAC signed the MoU on behalf of THAC and VIAC.

This MoU signals a strengthening of the ties between both institutions to promote and facilitate international arbitration. Under the MoU, both institutions will be able to request for hearing facilities, conduct joint seminars and conferences, share resource persons and jointly promote activities in support of ADR. We confident that this MoU will strengthen institutional ties and capacity building of persons involved in ADR.


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