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Representatives of the Viet Nam Lawyers' Association. It's expected to handle trade disputes. — File Photo
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HA NOI (Biz Hub) — The Viet Nam Lawyers' Association inaugurated a commercial arbitration centre in Ha Noi on April 21.
The centre, which was licensed by the Ministry of Justice last month, is a non-governmental organisation.
Deputy Prime Minister Truong Hoa Binh said possible trade disputes would challenge Viet Nam as the country entered the Trans-Pacific Partnership agreement, although the deal would bring about big opportunities for economic growth and export.
The establishment of the centre was in line with international practices, which showed that arbitration was becoming more and more important in settling trade disputes, he said.
Luong Van Hau, the chairman of the centre, said the organisation could handle cases where at least one party in a dispute had commercial operations. — VNS