The end of ‘win-lose’? China-backed mediation body makes pitch at Boao Forum
More flexibility, fewer costs and greater convenience in the process hailed by head of new International Organisation for Mediation
The head of the recently launched International Organisation for Mediation (IOMed) has hailed its process as a flexible and pragmatic way to resolve commercial and state-level disputes involving long-term investment.
Cheng described mediation as “conciliatory” and “non-confrontational”, citing its voluntary nature and the fact that parties directly discuss a possible resolution.
“There is only win-win because the parties are in control of the outcome,” she added. “So, both sides are happy when they settle. And of course, there is no right or wrong because instead of that, they look at how to preserve the relationship, the long-term relationship.”
Cheng said mediation could be a pragmatic option for resolving commercial and investment disputes as well as state-to-state matters, especially projects involving long-term investment.