International Mediation Body Expands Belt and Road Reach
AM730 · 2 SOURCESabout 2 hours ago5 MIN
Summary
At the second day of the Belt and Road Summit at the Hong Kong Convention and Exhibition Centre, International Organization for Mediation Secretary-General Teresa Cheng Yeuk-wah (鄭若驊) said the number of signatory states has increased from 37 to 47, while contracting parties have risen to 16. She said the institution uses a consensus-based multilateral process consistent with the Belt and Road Initiative’s principles of consultation, joint contribution and shared benefits, and can serve as a facilitator for cooperation.
Key Points
- Cheng said all 47 signatory states and 16 contracting parties are participants in the Belt and Road Initiative, and the body has already recorded successful cases.
- She said the organization handles disputes between states and international commercial disputes, and its services are also open to non-member states and their enterprises.
- Speaking at the summit in Wan Chai on Thursday, Cheng said closer cooperation in trade and finance can generate more contracts and transactions, but also more disputes.
- Cheng cited an earlier successful first maritime dispute case involving a Chinese company and a Singapore company as an example of mediation being efficient, convenient and affordable
- She said mediation under the organization’s framework is voluntary, aims to be more efficient and cost-effective, and allows parties to retain control over both process and outcome.
Why It Matters
For Hong Kong readers, Cheng’s remarks tie the city-hosted summit to a dispute-resolution role aimed at supporting cross-border business linked to the Belt and Road Initiative. If the organization continues expanding participation and training mediators with international partners, Hong Kong could further strengthen its profile in mediation and related professional services.