France is willing to bolster trade and economic ties with Pakistan

Paris: France is willing to bolster trade and economic ties with Pakistan and to mutually benefit from conducive investment environment in the country. Pakistan has made impressive economic gains in the last three years, characterized by macroeconomic stability, fiscal discipline, sustained growth rate, and record- breaking performance of its stock market. Pakistan can maintain high growth rates in the coming years with continuation of current policies. The achievements in the war against terrorism are equally laudable.

These views were expressed by Michel Sapin, French Minister for Finance, Economy and Industry in his meeting today in Paris with Senator Mohammad Ishaq Dar, Minister for Finance, Revenue and Economic Affairs. He congratulated Senator Ishaq Dar on presiding over the economic resurgence of Pakistan.

Senator Ishaq Dar told Mr. Sapin that Pakistan infused a number of bold structural economic and fiscal reforms together with stabilization measures to make the country’s economy stable. The positive trajectory has been acknowledged by renowned international economists and financial institutions, which are projecting Pakistan to be one of the top 20 economies of the world in the coming decades.

He added that it is about time for Pakistan and France to step up their efforts to enhance the trade and economic ties between the two countries for the mutual benefit of their people. There is a need to explore new avenues for further cooperation in diverse areas including energy, agriculture, food processing, aviation, information technology, automobiles and engineering.

Noting with satisfaction that business communities of France and Pakistan are already engaged in negotiations on several projects, both the Ministers agreed to facilitate the businessmen and to significantly raise the current level of bilateral trade through joint efforts. They also agreed to discuss upgrading of the Administrative, Economic and Trade Committee to Ministerial level in the form of Joint Economic Commission.

Senator Ishaq Dar invited the French Finance Minister to visit Pakistan and see for himself the economic transformation going on in the country.