Fifth Session of Elaboration of Convention on Establishment of The International Organization for Mediation concludes
A spokesman for the Department of Justice (DoJ) said that the four-day Fifth Session of the Elaboration of the Convention on the Establishment of The International Organization for Mediation concluded in Hong Kong today (October 17). Representatives from various countries completed negotiations on the Convention at the session and decided that the signing ceremony for the Convention will be held in Hong Kong in 2025.
The International Organization for Mediation (IOMed) will be the world's first intergovernmental international legal organisation dedicated to resolving international disputes through mediation, aiming to realise win-win co-operation between disputing parties. The IOMed is important for the implementation of settling international disputes by peaceful means as stipulated in the Charter of the United Nations and offers a new option to all countries for peaceful resolution of international disputes.
Following the signing of the Joint Statement on the Future Establishment of The International Organization for Mediation by China and other like-minded countries in 2022, the International Organization for Mediation Preparatory Office was established in the Hong Kong Special Administrative Region (HKSAR) in February 2023 to co-ordinate the conclusion of negotiations on the Convention.
The spokesman for the DoJ said, "The establishment of the IOMed headquarters in Hong Kong demonstrates the city's unique advantages and opportunities in international mediation. Through important initiatives such as establishing the IOMed Preparatory Office in the HKSAR, completing the negotiations on the Convention, and facilitating the consensus among different parties on situating the future IOMed headquarters in Hong Kong, the Central People's Government demonstrates its staunch support to HKSAR in establishing the city as a centre for international legal and dispute resolution services in the Asia-Pacific region under the National 14th Five-Year Plan. Upon its establishment, the IOMed will provide friendly, flexible, economical and efficient mediation services, thereby building Hong Kong as a capital for international mediation."
The spokesman said that the IOMed Preparatory Office will continue to perform the function as the IOMed's interim secretariat until the IOMed is formally established.
HKETO Jakarta promotes latest initiatives of Policy Address in Indonesia
The Hong Kong Economic and Trade Office in Jakarta (HKETO Jakarta) supported the inaugural Hong Kong - Indonesia Digital Summit held in Jakarta, Indonesia, today (October 17). The Summit was jointly organised by the Indonesia Hong Kong Business Association and the Indonesia Chamber of Commerce in Hong Kong.
The Director-General of the HKETO Jakarta, Miss Libera Cheng, shared with Summit participants during the gala dinner the latest initiatives related to the development of new quality productive forces and the promotion of Hong Kong's digital economy as announced in "The Chief Executive's 2024 Policy Address" delivered by the Chief Executive yesterday (October 16), with a view to publicising the city’s latest developments and opportunities.
Addressing the event, Miss Cheng stressed that the Hong Kong Special Administrative Region (HKSAR) Government is committed to developing Hong Kong into an international innovation and technology (I&T) centre by promoting the upgrading and transformation of traditional industries while diligently nurturing emerging ones. The measures include increasing investment and guiding market capital to invest in I&T industries, while an HK$10 billion I&T Industry-Oriented Fund will be set up to guide more market capital to invest in specified emerging and future industries of strategic importance, including life and health technology and artificial intelligence.
She added, "The HKSAR Government will press ahead with the development of a digital economy. We will also expedite the integrated development of the digital economy and the real economy, which includes accelerating the digital transformation of industries, strengthening digital infrastructure, and exploring development of a data trading ecosystem.
"In the digital world, data is king. Under the 'one country, two systems' framework, Hong Kong enjoys unique advantages in cross-boundary data flow. The HKSAR Government is exploring on a pilot basis facilitation arrangements for cross boundary data flow within the Guangdong Hong Kong Macao Greater Bay Area. Such co-operation would bring enormous opportunities for research and development work."
The gala dinner was attended by over 150 participants including senior representatives from government and business circles, as well as I&T companies.
HKETO Jakarta promotes latest initiatives of Policy Address in Indonesia Source: HKSAR Government Press Releases
HKETO Jakarta promotes latest initiatives of Policy Address in Indonesia Source: HKSAR Government Press Releases
