LAHORE: A Chinese delegation led by Cheng Dezhi, president of the Qingdao Law Society, held a meeting with S M Naveed, chairman of the Special Economic Zones Authority (SEZA) at the CM House Secretariat on Monday.
The meeting was attended by Cheng Dezhi, Li Huanting, Vice President of Qingdao Intermediate People’s Court, Yin Jhing, Vice President Qingdao Law Society, Ding Anhui, DG of Qingdao Municipal Foreign Affairs Office, Wang Caiyun, Director of Fazhigu, SCODA, Yan Hong, Director Qingdao Law Society, Moazzam Ghurki, President PCJCCI, Salahuddin Hanif, Secretary General PCJCCI and many other businessmen.
Cheng Dezhi said that the Qingdao Law Society is a local branch of China Law Society and a people’s organization under the leadership of the CPC Qingdao Committee. Our aim is to enhance the relationship between the party, governments, and law professionals as well as the promotion of academic research and application, institutional innovation and rule of law, participation in legalization and supervision, providing legal services and increasing public awareness.
He further added, “We should be mindful of the fact that international investors apart from evaluating economic, political and sovereign risk also focus on legal and quasi-legal factors before investing overseas. The investors expect that a system of law should be capable of accommodating sophisticated and complex concepts, transactions and structures within its framework. He also said that there is a dire need to address the legal issues and disputes of business community of both countries so that we can grow together.”
S M Naveed, Chairman SEZA shared that SEZs are larger estates and could be considered cities on their own. They usually cover all industrial and service sectors and target both foreign and domestic markets. Alongside this, the legal structure should have an impartial and independent Alternative Dispute Resolution (ADR) authority at each SEZ for expeditious adjudication of civil and commercial matters.
He also said, “We invite our Chinese brothers to come forward and invest as zone developers to attract Chinese investments in various fields. Alternate Dispute Resolution Cells should be established in both countries for the benefit of business community. Through ADR clause, the two parties can resolve their issues with the help of mediator; facilitator which I think is the most convenient way to solve such issues.”
He concluded the meeting by saying, “I am really hopeful for the success and economic betterment of both the countries by doing joint ventures and I am extremely thankful to esteemed delegation of Qingdao Law Society for visiting us.”
Copyright Business Recorder, 2023
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