‘French firms eyeing to boost investment in Pakistan’

ISLAMABAD: France’s shipping and logistics companies, automakers, like Renault and Pugeot, and wholesale companies are strongly drawn to Pakistan’s 200-million-strong market, as the business environment has improved by leaps and bounds, a French envoy said.

"Pakistan and its people are gifted with huge potential and France stands with Pakistan in benefitting from this potential” said Dr Marc Baréty, French Ambassador to Pakistan during a meeting with Ali Zaidi, Federal Minister for Maritime Affairs, at his office.

Baréty, who was accompanies by Premier Conseiller Yves Manville, appreciated the reforms initiatives of the government that helped Pakistan improve in world business rankings and indices.

Expressing confidence in the future of Pakistan, the French envoy apprised the minister about French companies already operating in hydrocarbons and transport sector in Pakistan. “Pakistan has a trade surplus with France, while textiles, leather products, fruits and pharmaceuticals are its major exports,” Baréty said.

Zaidi, the federal maritime affairs minister, gave a detailed overview of the projects the ministry was working on for the development of ports, especially in Karachi.

“The current government inherited an empty treasury and wretched economy, but timely efforts and right steps have brought visible changes at the macroeconomic level” said Zaidi.

The minister was all praise for the role of France in establishing zero-emission Red Line Bus service, a part of the Karachi Bus Rapid Transit project whereby animal waste would be used to generate biogas fuel for busses, industrial grade water, CO2, and fertiliser for agriculture. The project will be fully operational in 2020. It must be noted that France has labelled Islamabad and Lahore in its tourism category, while Giligit and Karachi are next in the line.

The statement said both sides had agreed on exchange of experience regarding this sector since France receives 90 million tourists every year.