Head of Economic Division, Embassy of France, Philippe Fouet has invited the Pakistani businessmen to invest in the textile sector of France and said that a French minister will visit Lahore in the start of next year. While speaking at the Lahore Chamber of Commerce and Industry on Thursday, the French envoy said that France greatly values its relations with Pakistan and strengthening these ties is one of the priorities of France's economic policy.
France and Pakistan have a huge scope to expand relations in various sectors of the economy therefore the private sector in Pakistan should enhance its interaction with their French counterparts. Speaking on the occasion, LCCI President Abdul Basit asked the French businessmen and investors to take full advantage of Pakistan, a profound blend of best geographical location, and trade and investment opportunities. He said Pakistan offers a vast scope of joint ventures in the fields of pharmaceuticals, energy, food processing, mining, oil and gas exploration. "The China-Pakistan Economic Corridor would offer great advantages to the French investors."
Among the top exporting and importing countries for Pakistan in EU after the Brexit, France is ranked at 6th and 3rd places respectively. In 2015, the value of Pakistan's export to France was US $361 million in comparison to imports from France which amounted to $417 million. In 2014, the level of bilateral trade went up as high as $828 million but in 2015 it went down to $778 million owing to 16 percent decrease in exports to France, he added.
He proposed that there should be regular exchange of trade missions between the two countries so that private-to-private contacts could be developed. He said the Lahore Chamber will be eager to respond positively to any initiative taken by French Embassy in this connection.
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