VIAC and BCCI signed Memorandum of Understanding (MoU) in the field of Arbitration and Dispute Resolution

During the official visit to the Republic of Bulgaria, H.E. Mr. Tô Lâm – General Secretary of the Communist Party of Vietnam and H.E. Mr. Rumen Radev President of the Republic of Bulgaria witnessed the signing ceremony of the Memorandum of Understanding (MoU) between the Vietnam International Arbitration Centre (VIAC) and the Arbitration Court at the Bulgarian Chamber of Commerce and Industry (BCCI). 

On the afternoon of October 23rd, 2025 (local time), the Vietnam-Bulgaria Business Forum took place in Sofia. The event was jointly organized by the the Vietnamese Ministry of Finance and the Embassy of Vietnam in Bulgaria, in coordination with the Bulgarian Ministry of Innovation and Growth. The forum aimed to strengthen connectivity and promote economic, trade, and investment cooperation between the two nations. 

The Forum was graced by the presence of General Secretary Tô Lâm and Bulgarian President Rumen Radev, alongside senior officials from relevant ministries, agencies and organizations of both countries, as well as a numerous representatives from the Vietnamese and Bulgarian business communities. 

General Secretary Tô Lâm and Bulgarian President Rumen Radev attended the Viet Nam–Bulgaria Business Forum (Photo: Thong Nhat/TTXVN)

At the forum, General Secretary Tô Lâm and President Rumen Radev, along with the high-level delegations of the two countries, witnessed the exchange of several cooperation documents between Vietnamese and Bulgarian organizations and enterprises in the fields of judicial cooperation, human resource training, space technology, and digital transformation, demonstrating a shared determination to deepen bilateral relations. 

Notably, to strengthen international cooperation in the judicial field, the Vietnam International Arbitration Centre (VIAC) and the Arbitration Court at the Bulgarian Chamber of Commerce and Industry (BCCI) officially exchanged a Memorandum of Understanding (MoU) between the two parties.  

The signing of this MoU signifies a milestone in the cooperative relationship between VIAC and the BCCI Arbitration Court, reflecting the shared commitment to promoting arbitration and ADR as effective mechanisms for resolving international commercial disputes. This collaboration is expected to foster greater confidence among businesses and investors engaging in cross-border trade. 

Moreover, with the witness of the two countries’ leaders, the recognition and commitment to cooperate between the two organizations also carries diplomatic significance, contributing to promoting and realizing the Vietnam-Bulgaria Strategic Partnership. 

General Secretary Tô Lâm and Bulgarian President Rumen Radev witnessed the Exchange ceremony of the Memorandum of Understanding between the Vietnam International Arbitration Centre (VIAC) and the Arbitration Court at the Bulgarian Chamber of Commerce and Industry (BCCI). (Photo: Thong Nhat/TTXVN)

Under the MoU, both institutions agreed to carry out a range of practical and substantive activities aimed at promoting the development of arbitration and Alternative Dispute Resolution (ADR) in Vietnam and Bulgaria.  Specifically, the two sides will collaborate in organizing forums, seminars, and international conferences on arbitration, mediation, and ADR; while also strengthening cooperation in professional training and knowledge-sharing for the legal and business communities. 

Furthermore, VIAC and BCCI will maintain regular exchanges of information on legal trends, institutional practices, and international developments. This exchange aims to enhance the professional capacity, practical skills, and legal awareness of arbitrators, mediators, and staff from both organizations. The MoU also provides a framework for mutual support in organizing arbitration and mediation proceedings as needed. 

Witnessing the signing of agreements at the forum, General Secretary Tô Lâm emphasized that the signed MoUs and cooperation agreements are vivid evidence of the long-standing relationship and multifaceted cooperation between Vietnam and Bulgaria, which continues to grow stronger for the mutual benefit of their peoples. 

The cooperation agreements, including the MoU between VIAC and the BCCI Arbitration Court, serve as practical steps toward expanding the area for cooperation, strengthening legal, economic, and trade collaboration between the two countries, thereby laying a solid foundation for sustainable development and shared prosperity in the future.