Zeeqaad 17, 1428
November 28, 2007
Prospects of Investment in Pakistan Bright – French Trade Commissioner
French Trade and Investment Delegation to visit soon – Francis Widmer
“Although Pakistan and France enjoy good economic and trade relations and there exists a great scope of increase in bilateral trade and industrial cooperation but is not reflected in annual exchange of goods which was $ 677.2 million in 2005-06, out of which exports and imports to and from Pakistan was $ 336.7 million and $ 340.5 million respectively”. This was stated by Mr. Francis Widmer, Trade Commissioner of France during his meeting with Mr. Shamim Ahmed Shamsi, President, Karachi Chamber of Commerce & Industry (KCCI).
Trade Commissioner, therefore, underscored the need to diversify Pakistani exports to France since most of its foreign trade consisted of conventional items like textiles and leather goods. He said that there was a great scope for joint ventures with France and informed that a French delegation of investors and traders would soon visit Pakistan to explore such potential. Mr. Francis Widmer particularly mentioned that Pakistan was facing acute shortage in public transport sector and as such French investors could assist Pakistan to overcome this problem. He also suggested that Pakistan might also establish warehouses and distribution centers in France for onward export to EU and adjoining countries.
Earlier, Mr. Shamim Ahmed Shamsi, President KCCI while welcoming the Trade Commissioner disclosed that balance of trade was in favour of Pakistan upto 2004-05, however, it was shifted in favour of France mainly due to decrease in its exports to France in 2005-06. He added, “France is an important member of European Union which offers a huge market for Pakistani goods, and Pakistan is one of the major suppliers of textiles to EU but it is a matter of concern that its exports especially textiles do not enjoy better access mainly due to implications of anti-dumping duties on some of textiles products and non-granting of GSP plus status, as given to Bangladesh etc. The Chamber Chief, therefore, urged the French Trade Commissioner to use his good offices in removing the tariff and non-tariff barriers. He appreciated that France has planned to establish state of art university in Pakistan. The Chamber’s President said that Pakistan is a land of opportunity and with a population of 16 million, abundant land and natural resources and its strategic location on the cross road of South Asia, Central Asia and Middle East, offers bright prospect of investment particularly in the fields of hi-tech including telecommunication, power generation (nuclear, thermal, solar, wind power, alternate source of energy), industries based on industrial bi-products and wastes, education, abattoir, chemicals, capital goods, health care including diagnostic laboratory, hotel industry, textile machinery etc.
The KCCI President, on a query from the Trade Commissioner about KCCI vision informed him. “ I have planned to direct the KCCI activities to assist the Government in achieving the Eight Millennium Development Goals (MDGs), assigned to all the countries by the U.N.O. in 2000 with a target of completing them by 2015, which include eradication of extreme poverty; universal primary education; promotion of gender equality; reduction in child mortality; improvement in maternal health; combat HIV/AIDs etc.; environmental sustainability and development of global partnership for development”. Mr. Shamsi added that he also wished to initiate a plan to develop vision 2030 – 2040 to stage Asian Games and Olympic Games respectively in Karachi, as these events would spur mega business activities in the metropolis
Mr. Iftikhar Ahmed Sheikh, Senior Vice President informed the Trade Commissioner about KCCI “5th My Karachi – An Oasis of Harmony” Exhibition scheduled to be held from 4th to 6th June, 2008 at Expo Centre Karachi and, through him invited the businessmen and investors in France to participate in the exhibition in a big way as it provides an excellent channel to promote their products and great exposure for French companies to display and / or sale their products to thousands of visitors besides, interaction with them.
Mr. Mohammad Haroon Agar Vice President disclosed that the office bearers intend to hold meeting with all the diplomatic envoys to apprise them and pursue them to participate them in the exhibition.
Mr. Naser Noor, Mr. Arshad Islam, Mr. Alamgir Khokar and Mr. Abdul Basit, Managing Committee’s members were also present in the meeting.