Daily Times

A Chinese delegation led by Mr. Cheng Dezhi, President of Qingdao Law Society along with his other executive members conducted a meeting with S.M. Naveed, Chairman Special Economic Zones Authority (SEZA), here on Tuesday. The meeting was attended by Cheng Dezhi, President Qingdao Law Society, Li Huanting, Vice President of Qingdao Intermediate People’s Court, Yin Jhing, Vice President Qingdao Law Society, Ding Anhui, D.G 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 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 explained.

He 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 said that there is a dire need to address the legal issues and disputes of business community of both countries so that both could grow together. S.M. Naveed 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 said, “We invite our Chinese brothers to come forward and invest as zone developers to attract Chinese investments in various fields.”