Fashion
EU welcomes Vietnam to WTO’s alternative arbitration arrangement
The arrangement guarantees participants access to a dispute settlement system, in the absence of a functioning Appellate Body in the WTO. It ensures that rules can be enforced and trade disputes resolved in an orderly way, without appealing ‘into the void’ at the WTO.
“I welcome Vietnam among the MPIA’s participants. The MPIA supports rules-based trade, and each new adhesion increases the stability of multilateral trading relations. I stress that the MPIA is open to all WTO members,” commissioner for trade and economic security Maroš Šefcovic said.
The EU welcomed Vietnam’s accession to the WTO’s Multi-party Interim Appeal Arbitration Arrangement (MPIA), which now includes 58 members covering 59.5 per cent of global trade.
The MPIA provides a functional dispute settlement system amid the WTO Appellate Body’s inactivity.
It ensures rule enforcement and fair arbitration, with independent experts hearing appeals.
The MPIA was put in place in 2020 and has since proven its effectiveness in many WTO disputes, most recently in the EU dispute with China on the enforcement of intellectual property rights.
Under the MPIA, appeals are heard by arbitrators selected randomly from the pool of 10 set up by the countries participating in the MPIA. It comprises persons of recognised authority, with demonstrated expertise in law, international trade and the WTO agreements. It is open to all members, to offer a practical tool for appeal arbitration, pending the restoration of a reformed and fully functioning WTO dispute settlement system, the European Commission said in a press release.
As of June 1, 2025, the MPIA has an updated pool of appeal arbitrators to ensure that appeals are heard by independent arbitrators of the highest calibre.
The current MPIA members are Australia, Benin, Brazil, Canada, China, Chile, Colombia, Costa Rica, Ecuador, the European Union (and its Member States), Guatemala, Hong Kong (China), Iceland, Japan, Macao (China), Mexico, Malaysia, Montenegro, New Zealand, Nicaragua, Norway, Paraguay, Pakistan, Peru, the Philippines, Singapore, Switzerland, Ukraine, the United Kingdom, Uruguay and Vietnam.
Fibre2Fashion News Desk (RR)
The goal, however, is challenging due to external pressures, including stricter technical barriers, reciprocal tariffs on goods exported to the United States, and the European Union’s Carbon Border Adjustment Mechanism (CBAM) for selected industrial products.
Therefore, major export industries in the country have started restructuring and adjusting strategies early in the year to seize market opportunities.
Following a record export value of $475 billion achieved in 2025—up by 17 per cent YoY—Vietnam aims at adding nearly $38 billion to the figure in 2026.
Major export industries in the country have begun restructuring and adjusting strategies early in the year to seize market opportunities.
The textile and garment sector, which earned $46 billion in 2025, has set a target of $50 billion in exports in 2026.
The textile and garment sector, which earned $46 billion in 2025, has set a target of $50 billion in exports in 2026.
The sector is focusing on strengthening domestic supply chains, raising localisation rates and making more effective use of free trade agreements (FTAs), Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), was cited as saying by a domestic media outlet.
Exports may grow by 15-16 per cent this year, driven by market expansion and a shift towards higher-value products, according to MB Securities’ Vietnam Outlook 2026 report.
Fibre2Fashion (DS)
The data showed that the decline was driven mainly by weaker domestic exports, with goods produced in the Netherlands down 8 per cent YoY. In contrast, re-exports to the US rose 3.9 per cent during the period. Exports to the US have fallen every month on a YoY basis since July, CBS said in a press release.
Trade flows were influenced by uncertainty around US import tariffs. In the first half of 2025, trade between the two countries continued to grow, possibly as companies advanced shipments ahead of announced tariff measures.
Goods exports from the Netherlands to the United States fell 4.7 per cent YoY to €27.5 billion (~$33 billion) in the first ten months of 2025, driven by an 8 per cent drop in domestic exports, according to CBS.
Re-exports rose 3.9 per cent, while tariff uncertainty weighed on trade.
Imports from the US increased 1.9 per cent to €48.1 billion (~$57.7 billion).
Meanwhile, imports from the United States rose 1.9 per cent YoY to €48.1 billion (~$57.7 billion) in the first ten months of 2025.
Fibre2Fashion News Desk (SG)
The Philippines’ economic growth for the third quarter (Q3) of 2025 has been revised slightly lower, with gross domestic product (GDP) expanding 3.9 per cent year on year (YoY), down from the preliminary estimate of 4 per cent.
Gross national income growth for the quarter was also revised to 5.4 per cent from 5.6 per cent, while net primary income from the rest of the world was adjusted to 16.2 per cent from 16.9 per cent.
The Philippine Statistics Authority has revised down the country’s third-quarter 2025 GDP growth to 3.9 per cent from an earlier estimate of 4 per cent.
Gross national income growth was also lowered to 5.4 per cent, while net primary income from abroad eased to 16.2 per cent.
The PSA said the adjustments reflect its standard, internationally aligned revision policy.
The Philippine Statistics Authority said the revisions were made in line with its approved revision policy, which follows international standards for national accounts updates.
Fibre2Fashion News Desk (HU)
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