The IOMed, headquartered in Hong Kong, China, responds to global needs for peace, stability, and development.
“We welcome the participation of more countries in creating the IOMed, to better enable it to coordinate with existing international dispute settlement mechanisms to make each other more effective,” Ms. Mao Ning, Spokesperson of China’s Foreign Ministry, told the media in Beijing.
China initiated the IOMed in 2022, collaborating with nearly 20 countries to form the world’s first intergovernmental legal organisation dedicated to mediation-based dispute resolution.
Its goal is to offer efficient, peaceful alternatives for resolving disputes and support the United Nations (UN) Charter’s principles.
“It pools the strengths of all major law systems and will help bring about more fair and equitable global governance on the rule of law,” Ms. Mao stated.
She said negotiations on the Convention on the Establishment of the IOMed had concluded, with 60 countries from Asia, Africa, Latin America, and Europe, as well as international organisations, including the UN, set to attend the May 30 signing ceremony.
“The Global Forum on International Mediation will be held in the afternoon that day to carry out discussions on mediation of disputes between States, and mediation of disputes between a State and foreign investors and commercial disputes, among other issues,” she added.
Ms. Mao noted that mediation, as recognised in the UN Charter, is a flexible, cost-effective dispute resolution method that respects the will of all parties involved.
“It has the unique advantages of greater flexibility, convenience, lower costs, and more effective implementation. It is reflective of the tradition of amity and harmony which is valued in the East,” she said.
GNA
