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Ravi: You have acquired international trade law expertise in the classroom
of the USA and applying it in the courtroom of Vietnam. How is the American
know-how relevant to and applicable in the local situation?
Thai: At the first glance, it seems that the
knowledge of American laws on international trade seems to be irrelevant to
a developing country like Vietnam. However, when we look deeply into the
business matters we could see the similarities between the two countries.
Whether it is an American or Vietnamese exporter, when he exports to a
foreign country, he needs to be ensured that he will get the money paid for
his goods in a proper time. For that reason, he needs a bank that he or his
bank can trust to issue a promise to pay him for his goods in a proper form
that he can understand. Whether that promise is call a letter of credit in
English or "thu tin dung" in Vietnamese, it bears the same meanings and is
issued for the same purpose.
Because the obligations and rights of the parties to
a trading transaction are similar despite the geographic area where it
occurs, it is interesting to see how the two different legal systems deal
with the same issue. From that differences, we can always learn some things.
For example, in an antidumping case, the antidumping administration has to
deal with public interest, the interest of the domestic industries, and
interest of foreign exporters. By learning how American authorities
considers those interests while making their decisions, we could learn and
find the methods of making decision which are suitable for Vietnam.
Ravi: What tempts you to
acquire international trade law knowledge and expertise in the USA and apply
it in Vietnam - I mean what tempts you to come back to your native country?
Thai: I recall that I did answer this answer
to the Fulbright committee during my interview for this honorable
scholarship. The development and prosperity of Vietnam heavily depend on
exports. Millions of jobs have been created by enterprises producing goods
for exports. Vietnam is also negotiating for the membership of WTO which is
considered as a milestone on the way the country integrates to the world
economy. In the country of 80 millions we have only 4,000 lawyers of which
only a handful are able to speak English and practice in international trade
law. In such conditions, there are many opportunities for people like me.
Reading American history, I think one of many
elements that makes America a global power is its people always look for
opportunities not facilities. People who immigrated to America from Europe
looked for new opportunities, people who went to the wild West look for
opportunities. So, I want to do the same by coming back to Vietnam: to look
for opportunities.
And I do love my country and want to do something
for it.
Ravi: Is your foreign
qualification helping you in selling your legal dispute management services
in the local market?
Thai: Yes, my foreign qualification helps me a lot in my business.
Firstly, the knowledge of international trade law that I’ve learned in the
U.S. is new and necessary for Vietnamese business community. Secondly, the
Fulbright scholarship (what I got) is famous in Vietnam and business people
respect it. Thirdly, the professors of my school, James E. Rogers College of
Law are well-know in Vietnam. Several times, I have had interesting
experience with strangers that I meet in business. When finding out that I
was a student of professors David A. Gantz and Boris Kozolchyk people
started talk to me like we had knew each other. I then found out that many
of them had attended in prof. Gantz’s presentations about international
trade law in Vietnam or knew professor Kozolchyk through his publications in
letters of credit.
Ravi: Why has Vietnam taken
to international trade and LC use? How has Vietnam developed legal
infrastructure and expertise for management of international trade and
international payment/LC disputes?
Thai: Exports play an important role in Vietnam’s economy (in 2003
the GDP was USD 39 billions while the exports was USD 20 billions). For that
reason, LC use is a must for Vietnamese enterprises in importing and
exporting. However, like other countries which are in transition from a
centrally-controlled economy to a market economy, the legal infrastructure
and expertise on international payment/LC disputes are built and learnt by
try-and-error. Although the country started trading with other countries
since 1970s, only until 2002 international law and practices (such as UCP)
were officially recognized by the Vietnam.
Ravi:
How traders in Vietnam arrange funds to finance international trade and LC
disputes? Do they prefer export credit insurance to litigation?
Thai: It can be shock for foreign traders to know that most of
Vietnamese enterprises do not use export credit insurance. They do not like
litigation either. They prefer to settle LC disputes through negotiation (deduction
of prices, etc.) For that reasons, Vietnamese traders are reluctant to work
with new clients. Normally, they trade with clients which they know for a
long time. To new clients, they normally trade with them in very small
quantity in the beginning This is really an obstacle for Vietnamese
enterprises to expand their foreign market.
Ravi:
It is said traders in developing countries have a tendency to seek court
order to stop LC payment and to interfere in the international standard
banking practice of compliant document examination to meet their internal
exigencies . Does Vietnam share this tendency? How Vietnam controls the
deviant tendencies in its trade and banking practices?
Thai: Before 2002, it was very common that
Vietnamese enterprises resorted to court order to stop LC payment and to
interfere in the international standard banking practice of compliant
document examination. However, since the acknowledgement of international
banking practice by the State Bank of Vietnam in 2002, this tendency
dramatically declined. One of my clients has been refused by his bank and
court to stop payment of a LC before he asked for my legal services.
Ravi: What are the common
kinds of trade-related international disputes that Vietnam usually faces?
Thai: For the exports from Vietnam, disputes
are mostly about goods quality. For imports into Vietnam, disputes mostly
are in relation to the intention of Vietnamese parties to stop LC payment (especially
common in the case where the fluctuation in the prices could result in their
loss) and good quality.
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