Pakistan made impressive economic gains in three years, says French minister

ISLAMABAD: 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. Pakistan can maintain high growth rates in the coming years with continuation of current policies.

 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 on Thursday.

According to a message received here from Paris, the French finance minister told his Pakistani counterpart Senator Ishaq Dar that France was willing to bolster trade and economic ties with Pakistan and to mutually benefit from conducive investment environment in the country.

Pakistan, he said, has made impressive economic gains in the last three years. Senator Ishaq Dar, who is currently on an official visit to Paris told Mr Sapin that Pakistan infused a number of bold structural economic and fiscal reforms together with stabilisation measures to make the country’s economy stable.

Dar said that the positive trajectory has been acknowledged by renowned international economists and financial institutions which are projecting Pakistan to be one of the top 20 economies of the world in the coming decades. The finance minister added that it was about time for Pakistan and France to step up their efforts to enhance the trade and economic ties between the two countries for the mutual benefit of their people.

There is a need to explore new avenues for further cooperation in diverse areas, including energy, agriculture, food processing, aviation, information technology, automobiles and engineering, Dar remarked.

Dar noted with satisfaction that business communities of France and Pakistan are already engaged in negotiations on several projects. Both the ministers agreed to facilitate the businessmen and to significantly raise the current level of bilateral trade through joint efforts.

They also agreed to discuss upgrading of the Administrative, Economic and Trade Committee to Ministerial level in the form of a Joint Economic Commission. Senator Ishaq Dar also invited the French finance minister to visit Pakistan and see for himself the economic transformation going on in the country.