On Wednesday, October 9, 2024, a significant event took place in Saigon, Ho Chi Minh City, Vietnam, marking a new chapter in international arbitration and mediation cooperation. The Vietnam Traders Arbitration Centre (VTA) and Dewan Sengketa Indonesia (DSI), also known as the Indonesia Dispute Board (IDB), signed a Memorandum of Understanding (MoU) to strengthen their partnership in dispute resolution services. This collaboration aims to enhance mutual understanding and develop frameworks for more efficient dispute arbitration and mediation across borders, particularly between Vietnam and Indonesia.
Attendees of the Signing Ceremony:
- Mr. Pham Xuan Sang, President of VTA
As the head of the Vietnam Traders Arbitration Centre, Mr. Sang led the VTA delegation and highlighted the importance of this MoU in fostering cooperation between Vietnam and Indonesia in the field of arbitration and mediation. - Prof. Sabela Gayo, Ph.D, President of IDB
Representing the Indonesia Dispute Board, Prof. Sabela Gayo expressed his enthusiasm for the partnership, emphasizing that this agreement would create new opportunities for resolving trade disputes more effectively. - Mr. Nguyen Minh Duong, Vice President of VTA
Mr. Duong’s presence underscored the commitment of VTA to this partnership, contributing his extensive experience in dispute resolution. - Ms. Phuong Dang (Paige), Executive Vice President / Arbitrator of VTA
Ms. Dang’s expertise in arbitration added depth to the discussions, bringing forward practical insights into the future operations of the MoU. - Mr. Akhmad Abdul Azis Zein, Head of DSI Semarang City, Central Java Province
Mr. Zein, as a prominent figure in Central Java’s mediation and arbitration scene, represented Indonesia’s regional efforts to contribute to international dispute resolution. - Mr. Sucahyo Agung, DSI Mediator & Arbitrator
Mr. Agung, with his background in arbitration, provided a professional viewpoint on how this collaboration could streamline processes in dispute settlement. - Ms. Veronika Melisa, DSI Mediator & Arbitrator
Ms. Melisa shared her experience in handling complex disputes and added value to the discussions on improving bilateral arbitration systems. - Ms. Iven Khurnia, DSI Mediator
Ms. Khurnia’s role as a mediator brought a focus on the human aspect of dispute resolution, emphasizing the importance of fair mediation practices. - Ms. Putri Rindiani Fiili, DSI Mediator
Ms. Fiili’s participation highlighted the importance of mediation in cross-border disputes, particularly in trade and commerce.
Significance of the MoU
The signing of this MoU represents a milestone in the professional cooperation between Vietnam and Indonesia in dispute resolution. It sets the stage for both institutions to share best practices, engage in joint training programs, and collaborate on complex arbitration and mediation cases. The agreement is expected to increase efficiency, reduce the cost of disputes for businesses, and foster stronger business ties between the two countries.
This partnership will also encourage more streamlined dispute resolution processes, benefiting international traders and businesses by providing a robust framework to handle potential conflicts. The signing event marked the beginning of what both parties hope will be a long-lasting and fruitful collaboration.
As both nations grow their economies and engage in more trade, the need for efficient and reliable dispute resolution systems becomes paramount, and this MoU serves as a step towards fulfilling that need.
