Hong Kong’s global mediation centre ‘to be on par with top courts at The Hague’
Chief executive says body will bring economic benefits, enhance city’s global status, and elevate its role and influence in international mediation
The setting up of a global mediation centre in Hong Kong will catapult the city onto the international arbitration stage, enhance its influence and bring in economic benefits, the chief executive has said.
Lee said the organisation’s status would be on a par with the International Court of Justice and the Permanent Court of Arbitration of the United Nations at The Hague. He noted the city’s ranking as the world’s second most popular arbitration destination.
“The mediation body will bring significant benefits on multiple fronts, including enhancing Hong Kong’s international status, significantly elevating its role and global influence in international mediation,” Lee said ahead of the weekly meeting of the government’s key decision-making Executive Council.
He also pointed to the “substantial” economic benefits the organisation would bring to the city. Lee said that demand for arbitration services would yield many job opportunities, such as for mediators, translators and researchers.
It would also attract other international organisations, NGOs and academic institutions to establish a presence in Hong Kong, and bring in high-quality conferences and exhibitions, Lee added.