The Cambodian government on February 16 announced its “full support” for Beijing’s International Organization for Mediation (IOMed) initiative to settle international disputes, especially those in the business world.
The Cambodian Ministry of Commerce has signed the joint statement on the establishment of IOMed, which Chinese foreign minister Qin Gang has hailed as the world’s first inter-governmental legal organisation dedicated to the settlement of international disputes through mediation.
Ministry secretary of state Sok Sopheak attended the inauguration of the Office of IOMed, held in Hong Kong in hybrid format, on the evening of February 16.
Speaking at the event, he remarked that IOMed will offer an additional, flexible, efficient, time-saving and low-cost dispute settlement option for international cases.
As a signatory to the joint statement, Cambodia will stand “ready” to join in talks on international instruments pertaining to the initiative, as well as to support and implement the associated rules.