The International Organization for Mediation (IOMed) will further consolidate the Hong Kong Special Administrative Region's international status and reputation as it attracts more organizations globally to settle in the city, Acting Secretary for Justice Horace Cheung Kwok-kwan said on Wednesday.

The establishment of the IOMed is expected to attract a wide range of academic, non-governmental and international institutions to set up their operations in the SAR, which will further consolidate the city’s international status and reputation, Cheung said in a written response to a query in the Legislative Council.

On May 30, 33 countries signed the Convention on the Establishment of the International Organization for Mediation, marking the launch of the intergovernmental mediation body which will be headquartered in Wan Chai.

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The world’s first intergovernmental mediation body, the IOMed will assist in attracting people from all over the world to come to Hong Kong to resolve disputes through mediation and other means, strengthening the city's position as an international legal and dispute resolution services center, Cheung said at the LegCo on Wednesday.

The organization is also expected to generate positive economic benefits, including the creation of new job opportunities for mediators, translators, researchers, and administrative staff, he said.

“This also attracts international legal professionals and scholars to Hong Kong, which will help promoting the development of legal practice, research and international judicial cooperation, and strengthening Hong Kong's international legal network.”

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The IOMed is expected to serve as a magnet for international conferences, exhibitions, and related events, boosting the city’s hospitality, catering, and transportation logistics sectors, said Cheung.

It will be an independent international organization, which will make its own policy and decision for its operation, he added.