Photo by Nhat Minh Luong on Pexels.com

According to the Vietnam.net Bridge website – Vietnam was voted in by the UN General Assembly for membership into the UN Commission on International Trade Law (UNCITRAL) last week.

The goal of UNICTRAL is to remove legal obstacles to international trade and Vietnam’s membership shows Vietnam’s increasing importance in trade in Southeast Asia. I believe the US-China trade war may help this along by pushing companies to seek other countries for manufacturing of goods to avoid the 10-25% duties on goods from China.

As written on my blog multiple times, Vietnam is also a party to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).