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Wednesday, June 20th, 2018

French envoy reveals action plan for boosting mutual trade

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by January 18, 2018 General

Lahore, January 18, 2018 (PPI-OT):French Ambassador to Pakistan Dr. Mark Barety has said that his first goal is to promote trade between the two countries for that he has evolved an action plan. He was talking to the LCCI President Malik Tahir Javaid, Vice President Zeeshan Khalil and Executive Committee members here at the Lahore Chamber of Commerce and Industry. Ijaz A. Mumtaz, Sohail Lashari, Amjad Ali Jawa, Awais Saeed Piracha, Shahid Nazir, Tahir Manzoor Chaudhry, Nabila Intesar and others were also present on the occasion.

French Ambassador said that help to French and Pakistani businessmen to visit each other’s country, exchange of valuable trade, business and investment related information and ease of visa processing are his action plan for boosting mutual trade relations. He said that new French president is taking various initiatives for economic stability of the country. He said that regulations are being simplified to make doing business in France easy. He said that a tax scheme has also given to reduce the number of taxes.

He said that Pakistan needs to make its perception better as a number of French companies are shy to come here. He said that French travel advisory for businessmen should be changed as Pakistan, particularly Punjab is safest place for business. He also called for product diversification saying that most of the trade between the two countries is in textile sector. He said that other sectors should also be focused for trade. He said that Lahore Chamber of Commerce and Industry can contact French Embassy in Pakistan any time in cause of any problem.

Speaking on the occasion, the LCCI President Malik Tahir Javaid said that business community is well aware of the significance of France in European Union. Pakistan and France enjoy good diplomatic relations and have stable trade and economic ties. Among the top exporting and importing countries for Pakistan in European Union, France is ranked at 7th and 5th places respectively.

While sharing some trade figures, the LCCI President said that in 2015, the total volume of bilateral trade was dollar 778 million which surged to dollar 817 million in 2016. The main reason of that increase was consistent rise both in imports and exports to France. From 2015 to 2016, the exports to France registered an increase of 3.3% whereas the imports from France went up by 6.5%. This trend needs to be continued. Pakistan exports menswear, women’s suits, cotton waste, hosiery items, and rice etc. to France. Pakistan’s imports from France consist of electrical machinery and appliances, pharmaceutical products, dairy produce and organic chemicals, etc.

He said that in the present scenario of bilateral trade, we wish that the balance of trade should be in favour of Pakistan and our products could have easy access to the markets of France. Your support is desperately needed in this connection as we seriously look forward to improving our relations with French community.

The LCCI president invited the French investors to take full advantage of Pakistan that is a profound blend of best geographical location and trade and investment opportunities. Pakistan offers a vast scope of joint ventures in the fields of pharmaceuticals, energy, food processing, mining, oil and gas exploration. “China-Pakistan Economic Corridor would be offering great advantages to the French investors.”

The LCCI President proposed that there should be regular exchange of trade missions between two countries so that private to private contacts could be developed. He said that the Lahore Chamber will be eager to respond positively to any initiative taken by French Embassy in this connection.

He said that being a developed country, France can play an important role in economic stability of Pakistan. He urged the private sectors of the two countries to focus on joint ventures that would also help transfer of technology from France to Pakistan. He urged the visiting guest to arrange a catalogue exhibition of French Companies. He said that Pakistan is the best place for investment as things have remarkably improved.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

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