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A Study on Legal and Historical Background on Vietnam's Accession to the United Nations Convention on Contracts for the International Sale of Goods(1): Focusing on the Adoption and Substance of the Doi Moi policy

  • DONG-A LAW REVIEW
  • 2016, (73), pp.119-146
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

SHIN CHOONG IL 1

1동아대학교

Accredited

ABSTRACT

Vietnam has acceded to the United Nations Convention on Contracts for the International Sale of Goods in December 2015, and the Convention will become effective as of January 1, 2017. The purpose of this paper is to review the legal and historical background for Vietnam's accession to the Convention, considering that Vietnam still claims to achieve a socialist state as its ultimate political and economic goals. Since the Convention usually applies to the international sale of goods between private parties, the economic system of a contracting state should be based on the market economy supporting the private ownership on the means of production, rights of citizens on business freedom, the existence of private economic sector, etc. Therefore, the legal and historical roots of Vietnam's accession to the Convention today can be found in the Doi Moi policy adopted in 1986 by the 6th National Congress of Communist Party of Vietnam. The fundamental reason for the Party's adoption of Doi Moi policy was severe economic depression. Internal elements such as inefficiencies from extreme socialist economic planning and consecutive failures of the economic policies of the Party were blamed for such economic depression. External elements such as the suspension of economic aid from the Soviet Union and China, and the embargo led by the United States further aggravated Vietnam's economy. The key substance of the Doi Moi policy is to adopt elements of market economy internally, while pursuing Vietnam's integration into the international economy externally. Certain relevant issues would be reserved for a separate paper such as the legalization of the Doi Moi policy, the recent background of Vietnam's accession to the Convention, the meaning of accession to the Convention in the context of the Do Moi policy's extension.

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