SCMC and VMC Signed an Exclusive Cooperation Agreement

Recently, Xi Jinping, General Secretary of the Communist Party of China (CPC), has paid a state visit to Vietnam again after six years, boosting the development of Sino-Vietnamese relations into a new stage of greater political mutual trust, and vigorously advancing the comprehensive strategic cooperation between the two countries. Both parties will promote practical cooperation in various fields.

After a half-year negotiation, SCMC and VMC signed an exclusive cooperation agreement between China and Vietnam online in the afternoon of December 21, 2023, officially becoming strategic partners.

Zhang Wei, Director of SCMC (left) and Phan Trong Dat, Acting Director of VMC (right) signed the agreement

With the strong support from the Ministry of Justice of Vietnam, Vietnam Chamber of Commerce and Industry, and the IFC – member of World Bank Group and business associations, VMC was established in Hanoi on May 29, 2018. It is the first unit in Vietnam to provide professional service of commercial mediation, enjoying wide popularity and good reputation in the field.

In accordance with the cooperation agreement, SCMC and VMC will actively respond to the Belt and Road Initiative and the Two Corridors, One Belt plan, focus on the publicity, professional training, academic research and other legal services on commercial mediation with their distinctive professional capabilities, and join hands to serve and safeguard China-Vietnam economic and trade exchanges, contributing to the development of diversified resolution of international commercial disputes in Asia.