CITY regeneration chiefs say Liverpool must now set its sights on attracting investment from India and South America following the Shanghai Expo.

The head of the city’s leading regeneration body Liverpool Vision, Max Steinberg, warned against pursuing a strategy “based on one city or one country” if the city was to maximise its potential to bring in business.

But, at the same time, he warned the council must keep its presence in the Chinese city if it was not to lose its head start in attracting business, following the closure of the six- month “business Olympics”.

The council’s transport and regeneration select committee – meeting to discuss the “legacy” of the Shanghai presence – said that emerging world powers like Brazil and the Indian sub-continent could be fruitful markets for selling Liverpool’s “international brand”, and also that the city should look west as well as east, maintaining the historic strong relations with North American cities.

It emerged the council is currently working with regeneration arm Liverpool Vision on an “international strategy” to make inroads to other growing economies.

Vision chief executive Max Steinberg said: “We must not allow the Shanghai office to close this year, and are in discussion with the council about how to maintain it because we will lose the authority to get straight into where we need to be.”

He added: “There are debates about where we go with the strategy. There’s some debate about India being one of the key markets we should target, America also.

“I think the lessons we’ve learned from Shanghai is we should target others more. We can’t have a strategy based around one city or country. We need a wider strategy.”