French Ambassador to Pakistan Philippe Thiebaud has said that Pakistan-France Joint Commission for Economic Cooperation is being established to give boost to bilateral trade and economic relations.
The French Ambassador was speaking at the Lahore Chamber of Commerce & Industry on Thursday. The LCCI Senior Vice President Kashif Younis Meher presented the Address of Welcome while Vice President Saeeda Nazar, former President Mian Misbah-ur-Rehman, former Senior Vice Presidents Abdul Basit, Tahir Javed Malik, Executive Committee Member Nasir Saeed, Mian Abuzar Shad, Sheikh Mohammad Ayub, Ahmad Hasnain, Nabila Intisar and Shoaib Zahid Malik also spoke on the occasion.
The Ambassador said that France is also providing financial and technical assistance to Pakistan for execution of hydel power projects to help overcome current energy crisis. He said that France is striving to develop GSP plus mechanism for Pakistani products’ access to EU market. He said that this would give a considerable boost to Pakistani exports.
The ambassador said that over $ 1.3 billion trade volume between Pakistan and France in 2011 was enough to make the point that both the sides have multifaceted and strong trade ties. He said that French car makers have shown their interest in Pakistani market and they might have their presence in near future.
The French Ambassador said that French large companies have recognized Pakistan’s potential and are interested to make investment here. On French cooperation in education sector, the Ambassador said that presently over 600 Masters and Ph D students were getting education in France while France is working with Higher Education Commission to facilitate more Pakistani students.
Speaking on the occasion, the LCCI Senior Vice President Kashif Younis Meher said that Pakistan and France are not only steady trading partners but have been substituting great gestures of love, respect and cooperation in other fields of life. He said that considering the size of Pakistan’s consumer market which is over 180 million and the extravagant style of spending by the rich class, French companies should take Pakistan as a potential market for their brands. He said that four kinds of weather and varied types of terrain widen the range of French products to be marketed in Pakistan.
More than half of our population consists of youth who are brand conscious and also inclined to follow the fashion trends. So, I think more and more French brands can be introduced in Pakistan to tap such a huge fraction of society. The LCCI Senior Vice President said that catalogue exhibitions, exchanging trade information and organizing franchising exhibitions could play a vital role to enhance the bilateral trade.
Pakistan exports comprise of textile clothing and hosiery items, bed & kitchen linens, appliances used in medical sciences, floating docks and light vessels, footwear, carpets, rice, leather goods and etc. Whereas we import turbo-jets, turbo-propellers and other gas turbines, aircraft parts, electric generating sets, rotary converters, medicament mixtures, colza seeds, natural milk products and etc.
Kashif Younis Meher said that Pakistan has the potential to export quality fashion garments to France particularly made of finest leather. Likewise we can supply sports goods, organic fresh fruits and vegetables etc. Other products which can be imported from France are pharmaceuticals, electro-medical apparatus, machinery parts and remelting scrap etc. Tourism is another important area in which both countries can cooperate with each other for its promotion. He said that that French multinationals could find the favourable environment for long-term investment in Pakistan. The success attained by French brands like Total and LU on the basis of the strength of their products has proved that there is enormous potential of Foreign Direct Investment in Pakistan.
Apart from that, there are several areas in Pakistan in which French firms can venture independently or in partnership with public and private sectors. Energy and transport can be most lucrative sectors for French investors amidst other fields like telecommunication, chemicals, automobiles, ship building and defence. To further expand commercial and economic ties, it is necessary that both countries should have access to each other’s markets. This will definitely lead both sides to a more strengthened and stable economic partnership. The LCCI Vice President Saeeda Nazar, speaking on the occasion called for collaboration in education and fashion industry for the benefit of Pakistan. She said that the fashion industry in France is well advanced and Pakistani entrepreneurs could learn a lot from its expertise.
