PARIS: French Minister for Finance, Economy and Industry has said Pakistan has made impressive economic gains in the last three years characterised by macroeconomic stability, fiscal discipline, sustained growth rate and record breaking performance of its stock market.
The achievements in the war against terrorism are equally laudable, said Michel Sapin, French Minister for Finance, Economy and Industry, in his meeting held in Paris with Senator Ishaq Dar, the Minister for Finance, Revenue and Economic Affairs.
French Minister acknowledged Pakistan’s economic achievements expressing the hope that journey towards further progress would continue. He said Pakistan can maintain high growth rates in the coming years with continuation of current policies.
Concluding his official visit to Paris, Finance Minister, Senator Mohammad Ishaq Dar met with French Finance Minister Michel Sapin and discussed trade, economic and investment relations between the two countries.
Minister Sapin congratulated the finance minister on joining the Open Government Partnership process. He also appreciated the ratification by Pakistan of the OECD Convention on Mutual Assistance on Tax Matters.
He acknowledged Pakistan’s economic achievements and expressed hope that the journey towards further progress and development would continue.
The finance minister apprised him of the importance Pakistan attached to transparency in public matters and his intention to make Pakistan a member of the OECD convention against bribery in due course.
The finance minister briefed minister Sapin on the turnaround of Pakistan’s economy in the last three years, macroeconomic stability, and improvement of energy and security situation in the country, which has provided a conducive atmosphere for foreign direct investment.
Both the ministers also discussed trade, economic and investment relations between the two countries.
While expressing satisfaction over the upward trajectory of bilateral relations, including decision by French automobile company Renault to start manufacturing vehicles in Pakistan, they emphasized the need to further strengthen ties through the institutional mechanism of Administrative, Economic and Trade Committee (AETC).
They agreed, in principle, to upgrade the AETC to ministerial level, the statement added.
The finance minister invited Sapin to visit Pakistan to co chair the next meeting of the AETC. Prior to that, both sides would meet early next year at Secretary level to prepare the ground for the ministerial meeting. INP