China signed a convention setting up an international organisation for mediation in Hong Kong on Friday that Beijing hopes will be on par with the International Court of Justice and bolster the city's international credentials.
The move comes amid growing geopolitical tensions that have been exacerbated by US President Donald Trump's global trade war and fuelled risks of a sharp worldwide economic downturn.
Pakistan became a co-signatory to the IOMed, a statement by the Foreign Office said.
Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar signed the convention establishing the organisation during a ceremony attended by officials from several countries, including Indonesia, Cambodia, Laos and Serbia.
Representatives from around 20 international organisations, including the United Nations, were also expected to participate, according to Hong Kong's public broadcaster RTHK.
"IOMeD also offers new opportunities and fresh hopes to build a more inclusive, more just and more equitable world. As one of the founding members of IOMed, Pakistan would continue to be an active voice in this noble mission," the statement quoted him as saying.
Speaking at the high-profile gathering, Dar lauded the visionary leadership of the People's Republic of China for spearheading the creation of IOMed. He hailed China for once again leading a transformative initiativecomparable in impact to the Asian Infrastructure Investment Bank (AIIB).
The DPM underlined that Pakistan reaffirmed its commitment to peaceful conflict resolution by becoming a founding member of the newly established International Organization for Mediation (IOMed).
Senator Dar described the establishment of IOMed as "the birth of an important global institution dedicated to mediation and peaceful dispute resolution," and commended the selection of Hong Kong as the organization's headquarters. Calling the city a "super connector," he noted its symbolic value in bridging East and West.
Reiterating Pakistan's dedication to the principles of the UN Charter and international law, Dar highlighted the country's recent efforts, including the establishment of the International Mediation and Arbitration Center (IMAC) in Pakistan, aimed at advancing commercial dispute resolution.
The Foreign Minister also used the platform to draw attention to pressing global conflicts, citing unresolved issues such as Jammu and Kashmir and the occupied Palestinian territories, and warned against the rise of unilateralism and populism.
The mediation body aims to cement Hong Kong's presence as a top centre to resolve disputes between countries, leader John Lee said earlier this week, adding that it's status would be on par with the International Court of Justice and the Permanent Court of Arbitration of the United Nations in The Hague.
Indonesia, Pakistan, Laos, Cambodia and Serbia were among the countries attending the signing ceremony. Representatives from 20 international bodies including the United Nations were also expected to join, public broadcaster RTHK said.
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