French consul general on Friday said limitations on sending remittances aboard and restrictions on importing goods make it difficult for French companies to operate in Pakistan.
He said that while exchanging views at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI).
“We hope that these limitations would be temporary and you’ll be able to find a way out of the current crises and the difficult situation in which you’re in. We can look at the future with optimism as despite these challenges, we have one success story of Lucky Motors and Peugeot in Pakistan, which shows us that we can have more success stories,” the consul general Alexis Chahtahtinsky said.
The French envoy stressed the need for having more government-to-government and business-to-business contacts between the two countries.
“This is the reason why I came here today to know about the activities of Karachi chamber and to know about your businesses. I am going to do the same when I go back to France in the next coming months where I’ll be meeting the French Chamber of Commerce and perhaps, try to motivate French business people to gradually come back to the Pakistani market,” he added.
Referring to a tragic incident outside Sheraton Hotel in Karachi where nine French engineers, who were working in Pakistan to build submarines, were killed in a bomb blast after 9/11 incident, he said the incident had resulted in significantly decreasing the number of French companies operating in Pakistan and created a challenging situation.
“We are trying to get back now by taking more pragmatic steps for developing our bilateral trade and investment relations and we are building on success stories especially in the economic and industrial area.”
The consul general emphasised that French cars were already being assembled in Pakistan while more such success stories between the two countries could be developed.
Chahtahtinsky was of the view that Pakistan holds great tourism opportunities and also possesses richest untapped land while Karachi, being the heart of country’s economic life, could offer a lot to French companies.
“Hence, the business communities of the two countries need to often contact each other.”
He further mentioned that France was also among the first nations to react to the devastating floods suffered by Pakistan as the first group of French rescuers arrived in Sindh in August who brought pumps to save submerged substations. A second group of military engineers also arrived in mid-October with a big equipment to convert dirty water into drinkable, he added.
“There will be more discussions at other forums on how to help Pakistan including the Donors Conference taking place next year after Pakistan comes forward with a plan for reconstruction,” the envoy said.
Earlier, KCCI president Mohammed Tariq Yousuf said the diplomatic relations between Pakistan and France were based on defence cooperation, boosting trade, economy and investments in addition to developing education linkages.
However, he continued, despite an agreement on the reciprocal promotion and protection of investment signed in 1983 between the two countries, the share of French net foreign direct investment was just $36.50 million in the financial year 2022, which should be enhanced to a reasonable level, Yousuf urged.
Source: The News