Publish Date: 5/15/2007 8:19:00 PM Source : PRO to CM
A business roundtable on Pakistan was held in Paris on 15 May 2007 at Medef International, the French Business Confederation that represents around eight hundred thousand large, medium and small French enterprises in all sectors (industry, commerce and services). Twenty-five major French companies including Alcatel, Alstom, BNP Paribas, Accor, Danone participated in the discussions.
Mr. Humayun Akhtar Khan, Minister for Commerce highlighted the business opportunities in Pakistan's market. He referred to the World Bank study "Doing Business" in which Pakistan ranks 74 on a scale of 1 to 175. The Minister asserted that Pakistan is a business friendly country, which offers liberal investment and trade regime. The emerging middle class is creating consumer spending and spurring demand for quality goods. There are numerous prospects for international and local businesses. He mentioned Goldman Sachs' classification of the "Next 11" economies, which includes Pakistan. The Minister highlighted the need to establish linkages between the French and Pakistani companies in the textile sector. He also emphasised provision of better market access to Pakistani products and the need for an FTA with the European Union, keeping in view the strategic aspect.
Pakistan's Ambassador to France, Ms. Asma Anisa in her address briefed the participants about the overall trade and economic relations between the two countries. A number of French companies were increasing their presence in Pakistan and the trade between the two countries has increased steadily and has now crossed US $ 1 billion mark, she said.
Mr. Perigot, Chairman of Medef International welcomed the Minister and recounted Medef's initiatives to bring together French and Pakistani businesses. He stated that Medef's forthcoming mission to Pakistan in June 2007 would be an important next step in the ongoing exchanges. He also pointed out that there was a lot of scope and potential for cooperation and to further develop trade and investment relations between France and Pakistan, particularly in the field of infrastructure development and energy.
Senior representatives of important companies like Accor and Alcatel presented testimonies of their experience of business in Pakistan. They termed the business environment as dynamic and positive. They also informed the meeting about their business expansion plans in Pakistan. These companies also highlighted that the security matters are well tackled and that we feel a lot of security in Pakistan, remarked the Accor representative.
The roundtable was followed by individual meetings between the Minister and representatives of French companies.
Pakistan
