China signed a convention on Friday establishing the International Organization for Mediation (IOMed) in Hong Kong. The move aims to create a global dispute resolution body similar to the International Court of Justice.
More than 30 developing countries, including Laos, Cambodia, Serbia, and Venezuela, have backed the convention. Pakistan, Indonesia, Belarus, and Cuba also signed to become founding members.
Chinese Foreign Minister Wang Yi stated that IOMed will promote amicable resolution of international disputes. The organization's establishment in Hong Kong is intended to solidify the city's role as a legal and dispute resolution center. This initiative occurs as China seeks to expand its influence in global affairs.