French Consul General Didier Talpain has said that it is their job at the French consulate and embassy to explain it to the French business community that the security situation is much better and they are doing so with a view to promote bilateral trade and encourage investors to explore this important market where some French companies are already doing good businesses.
Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he said, bilateral trade between France and Pakistan was not that high and it was quite low which was mainly due to persisting negative perception and misconception about the security situation in Pakistan therefore it was necessary to focus on building the image of the country.
"The misconception about security situation still remains in the minds of many French businessmen despite the fact that the situation is much better as compared to what it had been before 2013," he said. Stressing the need for enhanced trade relations with Pakistan and expanding cooperation between the two countries, he said, many French companies are keen to come to Pakistan and invest in various fields. He also inquired about various facilities which would be provided to foreign investors intending to set up their units in Special Economic Zones (SEZs) being established in Karachi and other parts of Sindh.
KCCI president Junaid Esmail Makda, while highlighting the investment potential of Karachi, stated that with improved law and order situation, Karachi offers a lot to French investors who can surely benefit from the situation by investing or undertaking joint ventures in Karachi. He said France and Pakistan share cordial relations with good military, defense, cultural, educational cooperation and economic ties while trade between the two countries has generally been steady.
"During 2017, Pakistan exported goods worth $970.9 million to France and $859.7 million goods in 2016, showing an increase of 1 percent," he said, adding that the goods worth $607.6 million were imported by Pakistan from France in 2017 as compared to $615.7 million import in 2016 that showed 1.3% decline.
Makda also appreciated French support to Pakistan in grant of EU's GSP Plus status that has helped in further enhancing bilateral trade between the two countries; however, the existing trade volume was still too low as compared to the potential. He underscored the need to make collective efforts to pave way for improved trade relations between the two friendly countries.
"There is also a need to enhance interaction between the business communities of Pakistan and France which, I am sure, will yield positive result and create a win-win situation for the two economies," he said, urging the French business community to invest in the Special Economic Zones in Sindh, including Karachi where they can enjoy numerous facilities including tax holiday for up to a period of 10 years, one-window facility along with uninterrupted water, electricity and gas supply.
Referring to the potential for enhancing bilateral trade relations between Pakistan and France, KCCI president stated that France was a major supplier of defense equipment, machinery and electronics. In this regard, France can cooperate in establishing industries in Pakistan by utilizing low cost labour that is available here and also help in technology transfer. Moreover, France is also a good market for Pakistani textile products, especially readymade garments, bed wear and knitwear.
"Being the Council Member of World Chambers Federation (WCF) and International Chambers of Commerce (ICC), I have been actively endeavouring to play the role of bridge between KCCI and other Chambers around the world, including France," Makda said, urging French Consul General to help KCCI in signing a Memorandum of Understanding with its peer chambers in France.
He also invited French companies to participate in the 16th My Karachi - Oasis of Harmony Exhibition which is scheduled to be organized in the month of April 2019 which would provide an excellent opportunity to French businesses to showcase their products and create strong linkages with their counterparts in Karachi by holding B2B meetings in a cordial atmosphere. KCCI senior vice president Khurram Shahzad, vice president Asif Sheikh Javaid and KCCI Managing Committee members and others attended the meeting.