Potential exists to boost bilateral trade

France official says Pakistan a huge potential market for business

FAISALABAD: There are immense opportunities to enhance cooperation in trade and technology between Pakistan and France, said Philippe Fouet, head of the economic department at the French embassy.

Addressing a meeting at the Pakistan Textile Exporters Association (PTEA) Wednesday, he said France considered Pakistan a huge potential market for business and is keen to further promote bilateral trade and economic ties.



He said that business is the best way to promote bilateral relations.

“France greatly values its relations with Pakistan and strengthening these ties is one of the priorities of the French economic policy.”

France and Pakistan have huge scope to expand relations in various sectors of the economy. Therefore, the private sector in Pakistan should enhance its interaction with French counterparts, Fouet suggested.

Several French companies are working here in different trade fields, said the official. “We have the latest technology and expertise and Pakistan could achieve good results for its economy by enhancing cooperation.”

Terming GSP Plus as a key driver for promoting bilateral trade, he said that with duty free access to EU, Pak-French trade volume has witnessed a positive growth; however, bilateral trade volume is still not up to the real potential.

Speaking at the occasion, PTEA Vice Chairman Muhammad Naeem said that France is one of the vocal and reliable supporters of Pakistan and has taken extreme measures to support its economy.

Terming France as a major export destination for Pakistan and largest trading partner among EU countries, he stressed the need for diversification in two-way trade.



He invited French businessmen to invest in Pakistan and take advantage of the opportunities offered. Giving details of two way trade, he said that Pakistani exports to France were €607.39 million in 2013, €694.55 million in 2014 but in 2015 it soared up to €768.37 million.

Published in The Express Tribune, June 8^th, 2017.

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