French Minister for Finance, Economy and Industry, Michel Sapin has said Pakistan has made impressive economic gains in the last three years characterised by macroeconomic stability, fiscal discipline, sustained growth rate and record breaking performance of its stock market.
The achievements in the war against terrorism are equally laudable, said Michel Sapin, in his meeting held in Paris with Senator Ishaq Dar, the minister for Finance, Revenue and Economic Affairs.
French minister acknowledged Pakistan’s economic achievements expressing the hope that journey towards further progress would continue. He said Pakistan can maintain high growth rates in the coming years with continuation of the current policies.
Concluding his official visit to Paris,Ishaq Dar had a meeting with French finance minister in which he discussed trade, economic and investment relations between the two countries.
Minister Sapin congratulated the finance minister on joining the Open Government Partnership process. He also appreciated the ratification by Pakistan of the OECD Convention on mutual assistance on tax matters.
The finance minister apprised him of the importance Pakistan attached to transparency in public matters and his intention to make Pakistan a member of the OECD convention against bribery in due course.
The finance minister briefed minister Sapin on the turnaround of Pakistan’s economy in the last three years, macroeconomic stability, and improvement of energy and security situation in the country, which has provided a favourable atmosphere for foreign direct investment.
While expressing satisfaction over the upward trajectory of bilateral relations, including decision by French automobile company Renault to start manufacturing vehicles in Pakistan, they emphasised the need to further strengthen ties through the institutional mechanism of Administrative, Economic and Trade Committee (AETC).
The finance minister invited Sapin to visit Pakistan to co-chair the next meeting of the AETC. Prior to that, both sides would meet early next year on secretary level to prepare the ground for the ministerial meetings.