France investors in Pakistan after 12 years

They are expected to make investment in the near future

FAISALABAD: France has so far made an investment of $1.4 billion and the visit of French investors - after a gap of 12 years - will attract more investment in the near future, said Philippe Fouet, Head of Economic Department of the French Embassy in Islamabad.



Speaking to members of the Faisalabad Chamber of Commerce and Industry (FCCI), Fouet said Pakistan and France were enjoying good relations and had the potential to promote bilateral trade.

“Our imports and exports are far less than the existing potential, but positive indicators are very encouraging,” he said.

He pointed out that during the first three months of this year, French exports had doubled while an 11% increase in Pakistan’s exports had also been recorded.

Talking about French investment, Fouet said France had made maximum investment in energy, oil distribution and liquefied natural gas (LNG) imports.

He acknowledged that the China-Pakistan Economic Corridor programme had strengthened Pakistan’s economy.

“All macroeconomic indicators are positive, but both countries have to take fresh steps to further strengthen bilateral ties,” the envoy added.

Referring to investments made in Faisalabad, he said France had completed first phase of the water treatment and distribution project while its second phase was now at the planning stage, which would ensure supplies to the remaining water-starved areas of the city.

Speaking on the occasion, FCCI Vice President Ahmad Hassan appreciated the support of France in maintaining the GSP Plus status of Pakistan in the European Union.



Keeping in view the GDP size of both the countries, there was a huge potential for Pakistan’s exports to France, but the growth rate remained only 4% per annum from 2012 to 2016, said Hassan.

Published in The Express Tribune, June 9^th, 2017.

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