Jeremy Kleinfeld has spoken to the Qianhai Lawyers’ Working Committee of the City Law Association in Shenzan, China, about the Belt and Road Initiative. This initiative is a development strategy proposed by the Chinese government that focuses on connectivity and co-operation between Eurasian counties, the land-based Silk Road Economic Belt and the ocean-going Maritime Silk Road. The event was intended to assist Shenzan lawyers in developing the international market.
When speaking about the initiative, Jeremy explained that there will be many different areas of commercial and legal risk for the various parties to consider, which could best be planned through a multijurisdictional legal team, particularly when combined with knowledge of local markets and customs.
Whilst recognising the considerable scope for co-operation, Jeremy cautioned that lawyers must ensure that local conflicts do not arise.