In government and B2B meetings held in Shanghai this past week between Muhammad Shehbaz Sharif,  the Chief Minister of Punjab, Pakistan’s most populated Province, efforts were made for a Pakistan-China free trade and development zone. Punjab would provide the land for free, while the Shanghai government would be invited to participate in management in addition to encouraging local businesses to invest. The invitation, which was met with some applause, would be “studied” by the Shanghai government, its spokesperson said.

Punjab could become an attractive destination for Chinese investment as the Province is Pakistan’s wealthiest and most productive, contributing over 60 percent of Pakistan’s total GDP, and lies close to trade routes to India which are now starting to show signs of opening up. Promising the new government of Syed Yousuf Raza Gilani, Pakistan’s Prime Minister would pay more attention to commerce and security than his predecessor, Pakistan is moving closely to a more aggressive approach to attracting FDI, including the services of Dezan Shira & Associates, who have been invited to Lahore to discuss advising on the attracting of FDI into the country, including the establishment of an English / Chinese “Pakistan Briefing” magazine to follow the same models as the “India Briefing”, “China Briefing” and “Vietnam Briefing” already part of the FDI legal / tax titles owned by a subsidiary of the firm.

Chris Devonshire-Ellis, Dezan Shira’s Senior Partner commented “We had an excellent and frank talk with Muhammad Shehbaz Sharif and his Ministers and we would be very interested in further discussions as regards collaboration. Our business is firmly entrenched in Emerging Asia and we see relations and business with Pakistan as key to this. With Pakistani clients already in China, and with a close relationship with one of the largest tax practices in the country we are confident that we will be able to play a part in the attracting of FDI in the Punjab and beyond. I am looking forward to being in Lahore in the very near future.”

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