The ‘International Organization for Mediation’ (IOMed) jointly proposed in 2022 by China & 18 other countries saw light last week in the Hong Kong Special Administrative Region (HK). China being the only permanent member of the UN Security Council which practices ‘one country many systems of government’ offered HK as it’s a unique location which has combined the laws managing especially civil, commercial & international aspects etc. China’s top diplomat Wang Yi represented China when it joined 32 other countries to sign the convention to establish the IOMed. Many analysts believe that it may replace ICJ & UN court due to its practical approach. It is the world’s 1st intergovernmental legal body dedicated to resolving international disputes through mediation. Approx. 400 high level representatives from 85 countries & 20 international organizations such as the UN have attended the signing event. Among them 33 countries became founding members of the ‘IOMed’. It is designed to mediate disputes between; states, states & foreign investors & international commercial disputes & is expected to fill the institutional gap in international mediation to strengthen global good governance. HK will be the location of the head quarter of IOMed & is expected to start operations by 2026 (Ref. Media). Countries including Sri Lanka which struggle to attract investors to keep the economy on track without losing genuine friends due to internal conflicts may study IOMed more to benefit in the future.
China & 32 countries established world’s 1st Intergovernmental Mediation body
