Chief Executive John Lee said on Monday international mediation is "indispensable" for resolving conflicts amid global instability as an international mediation body headquartered in Hong Kong began operations.

At the inauguration ceremony for the International Organization for Mediation (IOMed) in Wan Chai, he said the intergovernmental agency would "rise as a respected and trusted body for resolving disputes".

"In these times of global instability, international mediation is indispensable for resolving disputes, preserving relationships and encouraging meaningful cooperation," Lee added.

"With our world-class professional services, Hong Kong is dedicated to supporting the cause of dispute resolution."

Lee also said the Hong Kong Legal Week in December will include a session on international mediation, while the SAR will host a global mediation summit next year that brings together representatives from around the world.

Former justice secretary Teresa Cheng, who has been appointed as the first secretary-general of the body, said the organisation offers the international community "a powerful choice" to truly practise autonomy and mutual respect.

"IOMed will complement the services of other international dispute resolution bodies, and aims to provide mediation as a viable, efficient and effective option for disputants in state-to-state disputes, international investment disputes and international commercial disputes," she said.

Vice Foreign Minister Hua Chunying said the body's establishment provided "a new platform in the field of international rule of law".

The organisation champions equal consultation and pursues win-win cooperation, she added.