French trade delegation eyes investment opportunities in Pakistan

LAHORE, Apr 09 (APP):A 29-member first-ever largest and high-powered French delegation visited Lahore Chamber of Commerce and Industry on Tuesday and expressed deep interest in cooperation and business development.
Chairman of France-Pakistan Business Council & President of Total Global Services Thierry PFLIMLIN was heading the delegation, while officials of 20 top French companies, dealing in construction, agriculture and agribusiness, banking, oil and gas industry, urban development, transport, water treatment, energy and IT were part of the French delegation.
LCCI Vice President Faheem-ur-Rehman Saigal presided-over the meeting while, French Ambassador in Pakistan Marc Barety, Project Officer for South Asia Ms. Lana RAVEL, Counselor for Agricultural Affairs, French Embassy Ms. Francoise MOREAU LALANNE, Pakistani Commercial Counselor in France Dr. Moin-ud-Din Ahmad Wani, former LCCI President Malik Tahir Javed and Executive Committee Members spoke on the occasion.
The French business delegation also had fruitful B2B meeting with their Pakistani counterparts. Head of the French delegation Thierry PFLIMLIN said that French companies were keen to invest and develop businesses in Pakistan as this region was full of potential. He said that main objective of the visit was to explore business, trade and investment opportunities. “Exchange of delegations are a must to strengthen trade & economic relations,” Mr. Thierry PFLIMLIN added.
While sharing trade figures between Pakistan and France, Saigal said that in 2017, the total volume of bilateral trade was dollar 1068 million which fell to dollar 902 million in 2018. The main reason of that decrease was dip in imports from France.From 2017 to 2018, the exports to France registered an increase of 12 per cent whereas the imports from France went down by 32 per cent.
He said that level of two-way trade should increase while shifting the balance of trade in favour of Pakistan.
He stressed the need for further expansion in commercial and economic ties between Pakistan and France, and said that it was necessary that both countries had access to each other’s markets.
He said that major areas where France and Pakistan could work together include telecommunication, automobiles, shipbuilding and automotive parts, defence equipment, oil & gas exploration, infrastructure, textiles, garments, leather products, electrical & electronics appliances, fruits & vegetables, livestock & dairy, fisheries, horticulture, storage facilities for agro-products and cool chains.
Any investment made in Pakistan would find market for its products in Pakistan, Central Asian States and other regional countries, he added.
Lahore Chamber’s VP said that France and Pakistan had a long history of close ties in all fields, whether they were political, economic, cultural or defence. The relations between the two countries had traditionally been excellent and friendly, characterised by a high-level of mutual consultations.