After twelve years French investors visited Pakistan. Till now France has made an investment of $1.4 billion in Pakistan, this visit would appeal more French companies to explore economic and development opportunities in the country as per Philippe Fouet the Head of Economic Department of the French Embassy in Islamabad.
Philippe Fouet spoke to fellows of the Faisalabad Chamber of Commerce and Industry and said that the relations between France and Pakistan are heading in the right directions which can soon open further doors for trade between the countries.
At the moment he said bilateral trade between both the nations is low. There is a huge potential for importing and exporting items and this is just a start. The situation is the first three months of this year is very promising as exports of Pakistan have risen by 11% and French exports have doubled.
The field in which there has been maximum investment by France is energy, oil supply and LNG imports. Fouet said that CPEC has given a boost to Pakistan’s economy. More countries have become attracted to Pakistan’s market and they want to explore and create opportunities in the nation.
In order to strengthen ties, the countries need to work together. The economic pointers are all positive, now just effort is required from both ends.
In Faisalabad, France is working on a water treatment and distribution project. The first stage of this project has ended. Now the second stage is being planned where supplies would be provided to the water needy cities left.
FCCI Vice President Ahmad Hassan said that the country value the support of France for keeping GSP Plus rank of Pakistan in the European Union sustained.
Pakistan can explore French market; it has huge potential to export its items in France. The sad part is that the growth between the countries is just 4% between the years 2012 to 2016.