Law Society hosts IFC Oman delegation to boost cooperation

The Law Society of Hong Kong received a delegation led by Kairat Kelimbetov, managing director and a board member of the International Financial Centre of Oman (IFC Oman), last Friday (Sep 11) to explore new opportunities in the legal, financial and commercial sectors.

The Law Society was represented by president Roden Tong Man-lung, vice-presidents Amirali Nasir and Christopher Yu Kwok-kin, and council member and chairman of the standing committee on member services, Chris Zhao Tong.

Tong introduced the city’s strengths as an international legal and business hub, highlighting its common law system, independent legal profession, and dispute resolution services, saying that Hong Kong has long been a major hub for international arbitration and mediation, and that mediation is important for promoting cross-border business, investment, and trade cooperation.

As IFC Oman plans to establish cooperation arrangements with other jurisdictions, Tong suggested incorporating mediation clauses into these arrangements and utilizing the mediation services of the International Organization for Mediation (IOMed). 

Tong also highlighted the importance of commodities to the regional economy and the growing demand for specialized dispute resolution services in international trade. 

He said the Financial Services and the Treasury Bureau, the Law Society, and IOMed are exploring the creation of a panel of mediators specializing in commodity disputes under the IOMed framework, to meet market needs better and support international trade and investment.

Tong further shared that Hong Kong’s legal services market is highly international. More than 1,700 foreign lawyers and over 80 foreign law firms are registered to practice in the city.

Noting that IFC Oman operates under a common law system, Tong proposed that, subject to compliance with Hong Kong’s relevant legal and regulatory requirements and approval by the Law Society, lawyers admitted and practicing in IFC Oman be allowed to register as foreign lawyers in Hong Kong. This would enable them to advise and conduct business relating to the laws of their home jurisdictions within Hong Kong, in line with the city’s existing regulatory framework.

Kelimbetov said IFC Oman, as it develops its common law framework and prepares to welcome more international commercial entities, welcomes professional support from Hong Kong judges and legal professionals with common law expertise.

The two sides also discussed the possibility of signing a Memorandum of Understanding to deepen bilateral cooperation and expand collaboration opportunities. They said this would help further strengthen and extend the Law Society’s network across Central Asia.

The Law Society expressed its expectation to enhance exchange and cooperation with IFC Oman, and to explore additional opportunities of mutual interest.

The Law Society said engagement with international partners and professional bodies such as IFC Oman is important for reinforcing Hong Kong’s position as a trusted hub for legal and dispute resolution services. It also supports the participation of Hong Kong’s legal profession in regional development, facilitates cross-border business collaboration, and encourages the wider adoption of legal and dispute resolution services across jurisdictions along the “Belt and Road.”

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓