The remarks came as she delivered a speech at an IOMed-hosted summit in Wan Chai.
Cheng said a recently settled case was the first global maritime dispute involving a charter party chain to be referred to the IOMed for mediation.
A charter party chain refers to a maritime shipping arrangement in which a vessel is hired out through a series of consecutive contracts.
The mediation, she added, was carried out by a local shipping lawyer and ended with the parties signing a settlement agreement.
“The successful resolution demonstrates the value of amicable dispute resolution and the effectiveness of mediation as a practical means of resolving complex maritime disputes,” she said.
“It is also a landmark achievement for IOMed and indeed a significant moment for Hong Kong SAR’s maritime industry, particularly its maritime legal and dispute resolution services.”
Asked if the body could also handle disputes such as those in the Middle East, Cheng said as long as both of the involved parties agree, “any country can make use of IOMed to resolve disputes between nations”.
But she added that such disputes should not involve the interests of a third country based on international law unless that nation consented to it.
Cheng also noted that the mediation body was working with the government as well as stakeholders to set up a dedicated panel of mediators to settle disputes arising from the commodities market.
It comes after Financial Secretary Paul Chan expressed the need for a panel that would be able to settle disputes across the full value chain spectrum of the commodities market.
“This move will promote the use of IOMed mediation as the prime mechanism to resolve disputes in international commodities disputes, and will strengthen the market confidence and facilitate cross-border transactions,” she said.
“We hope this will also demonstrate IOMed’s responsiveness to evolving needs of global commerce and international investment transactions.”
Secretary for Justice Paul Lam noted the country’s 15th Five-Year Plan clearly points out that the SAR should enhance its status as a global legal and mediation centre.
Cui Jianchun, commissioner of the Ministry of Foreign Affairs in Hong Kong, said he believed more states would join IOMed in the coming three to five years.
He added that China welcomes more countries to join IOMed and collaborate on contributing to world peace.
So far, 41 countries have joined the body.
The event, Global Mediation Summit, was attended by some 1,000 delegates from more than 60 countries and regions both online and in person, featuring three panels on topics such as state-to-state and investor-state disputes.
It also formed part of the five-day Mediation Week 2026, which opened on Monday.
