THURSDAY MAY 05: Pakistan, France agree on close trade relations: joint declaration today

PARIS: Pakistan and France are set to announce a mechanism for enhancing economic and commercial relations when the two countries release a Joint Declaration on Economic and Commercial Partnership here today (Thursday). Through the Declaration, France would announce financial and trade support, institutional co-operation perspectives for sectoral relationship and setting up of an administrative and trade committee.
The two sides would also release a Declaration on Security Co-operation between France and Pakistan. Joint Declaration on Economic and Commercial Partnership would be signed by Hina Rabbani Khar the Minister of State for Foreign Affairs and for Finance, Economic Affairs on behalf of Pakistan where as Mr Pierre Lellouche, Minister of State for External Trade, would sign the Declaration on behalf of the government of France.
The Declaration provides that the two countries reiterate their determination to reinforce their mutual relationship through developing a framework of closer economic co-operation and enhancing trade and investment linkages. Under the Financial Support, France is considering giving its guarantees to contracts for the export of French goods and services, for example in the field of security and anti-terrorism, and according to the needs and the sustainability of Pakistan's economic and financial situation. Secondly, through AFD (Agence francaise de development), Fracne will continue to provide financing aimed at addressing the current energy crisis faced by Pakistan.
Under the Trade Support, the business meetings will be organised by Ubifrance (the French agency for international Business Development) for Pakistani decision makers visiting France. Ubifrance will promote the opportunities offered by the Pakistani market to French business leaders, by setting up briefings and seminars on the Pakistani economy. Under this mechanism, both the parties would also affirm their commitment to facilitate and speed up the process of issuing visas to business people.
Under the Institutional Co-operation, France will support, on request, training for Pakistani administrative and technical personnel on the issues and procedures involved in international trade negotiations, especially within the WTO framework. France will also assist Pakistan to enable it to improve its tools and methods for economic and financial policy, statistics, debt and cash management.
The proposed Declaration also envisages setting up an Administrative Economic and Trade Committee between the two countries. This committee will be headed at the level of Directors General or Heads of services from the ministries of Economy and Finance from both the countries. It will be co-chaired by the Directorate General of the Treasury for France, and by the Economic Affairs Division through its Secretary or its nominee. The committee will have representatives of relevant ministries/organisations from both the sides to address specific issues. Economic and trade related issues such as identification and removal of non-tariff barriers, resolution of bilateral trade disputes and strategic plan to increase bilateral trade will be dealt with by this Committee.
Similarly, Pakistan and France will also release Declaration on Security Co-operation between the two countries. Under this mechanism, France and Pakistan will cooperate on sharing information on issues relating to terrorism, enhancing contacts and meetings, acquiring, modernising, repairing of equipment's used to combat terrorism/capacity building, and any other form of co-operation in the area of combating terrorism.
The proposed Declaration of Security Co-operation also provides that bilateral co-operation will include contacts and meetings between the security and law-enforcement forces; provision of technical assistance to Pakistan; participation in cross training; education activities; and exchange of experiences between the experts; acquisition of equipment, apparatus, gadgets to be used for the purpose of co-operation.
The two sides have also decided to set up Pak-France Security Commission. The commission will hold its meeting twice a year, alternately in France and Pakistan. The Commission will include representatives from respective Foreign, Interior, and Defence, ministries.