France seeks diversification of trade and investment opportunities in Pakistan: French Envoy

Islamabad: (Ch Mudassar Iqbal) French Ambassador to Pakistan Marc Baréty and Premier Counselor Yves Manville called on Federal Minister for Maritime Affairs Ali Zaidi here and expressed confidence in the future of Pakistan.

“Pakistan and its people are gifted with huge potential and France stands with Pakistan in benefiting from this potential” said the Ambassador in a press release received here on Wednesday.

The delegation also apprised the minister about French companies already operating in hydrocarbons and transport sector in Pakistan. Pakistan has a trade surplus with France whereby textiles, leather products, fruits and pharmaceuticals are its major exports, Renowned French shipping and Logistics companies, auto companies like Renault and Pugeot and Wholesale companies show interest in 200 million people Market of Pakistan since the business environment has become more and more conducive in the tenure of the current government.

The delegation also appreciated the reform initiatives of the government which has helped Pakistan to improve in world business rankings and indices.

Ali Zaidi gave a detailed overview of the projects the ministry is working on for the development of ports and especially Karachi. “The current government inherited an empty treasury and wretched economy, but timely efforts and right steps have brought visible changes at the macroeconomic level,” he added.

The Minister appreciated the role of France in establishing zero-emission Red Line Bus service, a part of the Karachi BRT project whereby animal waste is to be used to generate bio gas for busses, industrial grade water and CO2 and fertilizer for agriculture. The project will be fully operational in 2020.

France has labelled Islamabad and Lahore in its tourism category, while Giligit and Karachi are next in the line, the participants of the meeting agreed on exchange of experience regarding this sector since France receives 90 million tourists every year.

The participants also agreed to hold high level meetings with businessmen and companies for exploring trade and investment opportunities among the two countries.