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French businessmen keen to explore investments prospects in Pakistan

ISLAMABAD, APR 05 (DNA) – French businessmen have shown keen interest in various investments opportunities in Pakistan adding the overall security and law and order situation in Pakistan is much more different to that of portrayed in the international media.

Thierry PFLIMLIN Chairman of the French, Pakistan Business Council expressed these views while talking to a select group of journalists at the French residence. Ambassador of France Martine Dorance was also present.

Mr. Thierry who is also heading the high powered business delegation represented by over 20 leading French companies, further said, they had fruitful discussions with the ministers including. They also had a chance to meet with the President of Pakistan Mamnoon Hussain.

He said, French companies genuinely want to explore various business opportunities in Pakistan that was reasons that this high powered delegation has come here to interact with their Pakistani counterparts.

To a question about CPEC, the head of the delegation termed it an important project however he said the scope and spectrum of this project needs to be expanded.

To yet another question that why it took you so long to come to Pakistan because last visit took place in 2005, the head of the delegation said, yes of course this visit should have happened before nevertheless it is hoped that from now on we will make sure such visits are arranged quite often.

ISLAMABAD,APR 05: Thierry PFLIMLIN Chairman of the French, Pakistan Business Council and head of MEDEF delegation currently on Pakistan tour talking to media people at the French ambassador’s residence.. DNA PHOTO
ISLAMABAD,APR 05: Thierry PFLIMLIN Chairman of the French, Pakistan Business Council and
head of MEDEF delegation currently on Pakistan tour talking to media people at the French
ambassador’s residence.. DNA PHOTO

He further said, MEDEF international is a non project private-funded organization, chaired by Jean Burelle, CEO of Burelle group. This organization is the most representative organization of the French private sector at an international level. It gathers about 7000 French companies already operating in the world in 85 business councils headed by 55 CEOs of major international French companies.

Thierry PFLIMLIN further said, through its national and international networks, MEDEF international open to the French companies a direct access to public and private decision makers, and vice versa.

It may be mentioned here that Pakistan and France enjoy long standing and mutually beneficial relationship not only because bilateral trade between the two countries has significantly increased but France has also strengthened its position in terms of foreign investments and aid.

The trade figures between France and Pakistan have displayed a significant increase in bilateral flows in 2016. Thus the value of bilateral trade was worth about EUR Md that is a 18.7 percent increase over the year.

Pakistan exports from France have reached their highest level in 2016 at EUR 777 million or USD 728 million, which corresponds to an increase of 4 percent compared to 2015.

Textile goods, leather and shoes account for 86.6 percent of Pakistan’s total exports to France. Pakistan lost 1 place over the course of last year to rank as France’s 60th supplier as compared to the 59th rank it occupied in 2015.

Excluding defence equipment French exports to Pakistan have shown an increase of 44 per cent. This increase is more significant than European Union whose exports to Pakistan rose by 19.5 percent.

The industrial presence of several French groups enabled France to increase its exports in 2016. France was 23rd supplier of Pakistan in 2016.

French exports to Pakistan are mainly machinery and industrial equipment, such as turbines for power plants, machines and mechanical equipment, electrical equipment. The remaining part comprises of helicopters, pharmaceutical products and food items.

The industrial activities by major companies during the past few years have contributed to strengthen the French presence in terms of foreign investment in Pakistan.

 In terms of stock, France is the 8th investor in Pakistan. French FDI amounted to USD 1.1 billion in 2016. Over the first eight months of 2016/17 French inflows amounted to USD 140 million. =DNA

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