ISTANBUL

Hong Kong on Friday hosted the signing of a new intergovernmental body focused on mediation which will “help transcend the 'you-lose-I-win’ zero-sum mentality,” said China’s Foreign Minister Wang Yi.

The signing ceremony of the Convention on the Establishment of the International Organization for Mediation, or IOMed, was held in the Wan Chai area of the semi-autonomous region and the mediation center will be headquartered in Hong Kong.

Wang said the establishment of the IOMed was the “actualization of the purposes and principles of the UN Charter,” according to an official statement.

“Mediation, as is clearly stated in Article 33 of the Charter, is one of the first means that should be tried in seeking peaceful solutions to international disputes,” he stressed.

“The IOMed takes it as its mission to mediate disputes between states or between a state and foreign investors, and international commercial disputes based on the will of relevant parties,” he added.

“Resolving conflicts through dialogue and mediating disputes through consultation is a common value and aspiration of all major civilizations in the world.”

Wang led the signing of the convention, which included senior officials from 32 countries to become the founding members of the body.

Representatives from more than 50 countries across Asia, Africa, Latin America, and Europe, and from some 20 international bodies, including the UN, attended the ceremony.