Vietnam joins WTO’s dispute settlement mechanism
(VOVWORLD) - Vietnam on Thursday 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).
 (Photo: REUTERS/Denis Balibouse) |
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.