New Mediation Body: Strengthening Hong Kong's Global Role

In a significant diplomatic move, Chinese Foreign Minister Wang Yi signed a convention in Hong Kong to establish an international organization for mediation. The event is seen as a strategic effort by Beijing to enhance Hong Kong's international standing, aligning it with prestigious institutions like the International Court of Justice.

This initiative emerges at a time of heightened geopolitical tensions, primarily influenced by the trade war sparked by U.S. President Donald Trump. These disputes have disrupted global markets and supply chains, emphasizing the need for a reliable platform for international dispute resolution.

Hong Kong seeks to position itself as a premier center for resolving international disputes, promising economic growth and job creation across several sectors, including hospitality and transport. Nations such as Indonesia, Pakistan, and Serbia participated in the inaugural ceremony, underscoring the global interest and significance of this development.

(With inputs from agencies.)