ISLAMABAD
\nCommercial legal services platform has been established to support China-Pakistan Business -to-Business B2B cooperation. The new step was marked with the inauguration of \u201cBelt and Road\u201d International Commercial Legal Services Demonstration Zone in Xi\u2019an.
\nA Pakistani delegation led by the China-Pakistan International Business Alliance participated in the signing ceremony, acknowledging the platform\u2019s role in providing critical legal protections and bolstering legal services for industrial cooperation under the second phase of the China-Pakistan Economic Corridor (CPEC).
\nThe newly established legal services zone is expected to address complexities arising from the different legal systems of China and Pakistan, Gwadar Pro reported on Monday. While Pakistan operates under a legal framework rooted in common law traditions, influenced by European and American systems, China follows a civil law system.
\nThe presence of an international commercial legal services platform will facilitate dispute resolution and ensure smoother business transactions. Mr. Wang Yongxin, President of China-Pakistan International Business Alliance introduced that the platform will not only serve Chinese companies operating in Pakistan but also provide legal assistance to Pakistani enterprises in China.
\n\u201cPreviously, Pakistan and China lacked a unified standard for legal disputes, making it difficult to resolve conflicts that arise from differences in legal practices, for example, different quality inspection systems,\u201d explained Dr. Muhammad Shahbaz, member of the Pakistani delegation.
\nThe new platform aims to fill this gap by providing arbitration and mediation services accepted by both countries, ensuring that disputes, particularly in trade and export contracts, can be resolved efficiently.
\nIt is learned that a team of lawyers has been put in place to provide legal services in both countries under the to-be-established commercial legal committee. \u201cWith major cities such as Islamabad, Karachi, and Lahore being covered, the platform will foster a more conducive investment environment in Pakistan by mitigating risks and providing legal assurances for Chinese companies participating in CPEC projects.
\nPakistani enterprises operating in China will also benefit from the platform\u2019s services, enabling them to navigate China\u2019s legal framework with greater confidence,\u201d said Mr. Wang Yongxin.
\nThe demonstration zone will also attract international law firms, making Xi\u2019an a hub for global legal services. With its outreach extending beyond local enterprises, the platform will cater to countries along the Belt and Road Initiative (BRI), including those in Central Asia and Europe, etc. \u2014DNA<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Commercial legal services platform has been established to support China-Pakistan Business -to-Business B2B cooperation. The new step was marked with the inauguration of \u201cBelt and Road\u201d International Commercial Legal Services Demonstration Zone in Xi\u2019an. A Pakistani delegation led by the China-Pakistan International Business Alliance participated in the signing ceremony, acknowledging the platform\u2019s role in […]<\/p>\n","protected":false},"author":2,"featured_media":433100,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-433095","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n